The following information for Cooper Enterprises is given below:

December 31, 2021
Assets and obligations
Plan assets (at fair value)	$600,000
Accumulated benefit obligation	1,110,000
Projected benefit obligation	1,200,000
Other Items
Pension asset / liability, January 1, 2021	30,000
Contributions	360,000
Accumulated other comprehensive loss	503,700

There were no actuarial gains or losses at January 1, 2021. The average remaining service life of employees is 10 years.

What is the amount that Cooper Enterprises should report as its pension liability on its balance sheet as of December 31, 2021?

The following information for Cooper Enterprises is given below:

December 31, 2021
Assets and obligations
Plan assets (at fair value)	$600,000
Accumulated benefit obligation	1,110,000
Projected benefit obligation	1,200,000
Other Items
Pension asset / liability, January 1, 2021	30,000
Contributions	360,000
Accumulated other comprehensive loss	503,700

There were no actuarial gains or losses at January 1, 2021. The average remaining service life of employees is 10 years.

What is the amount that Cooper Enterprises should report as its pension liability on its balance sheet as of December 31, 2021?

A) $600,000

B) $1,110,000

C) $1,200,000

D) $90,000

Answer rating: 100% (QA)

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