The following balances relate to the defined benefit pension plan of Cameron Industries: Instructions: 1. Determine the
Question:
The following balances relate to the defined benefit pension plan of Cameron Industries:
Instructions:
1. Determine the additional pension liability, if any, at December 31, 2008, and December 31, 2009.
2. Prepare journal entries for the additional pension liability adjustment, if any, at December 31, 2008, and December 31, 2009. Assume that the company had not previously recognized additional pension liability under FASB Statement No.87.
Transcribed Image Text:
Dec. 31, 2008 Dec. 31, 2009 Fair value of the pension fund Market-related value of the pension fund $149,000 $160,000 145,000 173.200 159,100 4,200 8,200 20,200 152,000 191,600 172,900 (1.950) 6,300 23,350 (5-year weighted average) РВО ABO Prepaid (accrued) pension cost Unrecognized prior service cost Unrecognized net pension loss
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1 Computation of additional liability 2008 2009 Accumulated benefit obligation 159100 172900 Less Fa...View the full answer
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Related Book For
Intermediate Accounting
ISBN: 978-0324312140
16th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
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