Jan Corp. amended its defined benefit pension plan on January 1, granting a total credit of $180,000
Fantastic news! We've Found the answer you've been seeking!
Question:
Jan Corp. amended its defined benefit pension plan on January 1, granting a total credit of $180,000 to four employees for services rendered prior to the plan's adoption. The employees, A, B, C, and D, are expected to retire from the company as follows:
"A" will retire after three years |
"B" and "C" will retire after six years |
"D" will retire after nine years |
What is the amount of prior service cost amortization in the first year under U.S. GAAP?
A. $0
- B. $45,000
- C. $20,000
- D. $30,000
Expert Answer:
Posted Date:
