The following information for Cooper Enterprises is given below:

There were no actuarial gains or losses at January 1, 2018. The average remaining service life of employees is 10 year.

1. What is the pension expense that Cooper Enterprises should report for 2018?

A. $456,300

B. $660,000

C. $360,000

D. $503,700

2. What is the amount that Cooper Enterprises should report as its pension liability on its balance sheet as of December 31, 2018?

A. $600,000

B. $90,000

C. $1,110,000

D. $1,200,700

3. The amortization of other comprehensive loss for 2018 is

A. $0

B. $38,370

C. $69,000

D. $50,370

Transcribed Image Text:

Assets and obligations Plan assets (at fair value) Accumulated benefit obligation Projected benefit obligation Other Items Pension asset / liability, January 1, 2018 Contributions Accumulated other comprehensive loss December 31, 2018 $600,000 1,110,000 1,200,000 30,000 360,000 503,700 Assets and obligations Plan assets (at fair value) Accumulated benefit obligation Projected benefit obligation Other Items Pension asset / liability, January 1, 2018 Contributions Accumulated other comprehensive loss December 31, 2018 $600,000 1,110,000 1,200,000 30,000 360,000 503,700

Answer rating: 100% (QA)

Assets Obligation 31122018 Plan Assets at Fair Value 60000000 Accumulated Be... View the full answer