Question: Using this problem as an example, why was the accumulated OCI (PSC) not reported on the Hawkins balance sheet: Hawkins Corporation has the following balances

Using this problem as an example, why was the accumulated OCI (PSC) not reported on the Hawkins balance sheet:

Hawkins Corporation has the following balances at December 31st, 2020.

Projected benefit obligation: $2,600,000

Plan assets at fair value: $2,000,000

Accumulated OCI (PSC): $1,110,000

How should these balances be reported on Hawkins' balance sheet at December 31st,

2020?

Projected benefit obligation

$2,600,000

Plan assets at fair value

($2,000,000)

Pension liability balance at December 31, 2020

$600,000

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