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The Granger Co. had the following information about

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The Granger Co. had the following information about its pension plan for 2008;1. Projected benefit obligation 400,000;2. The company granted prior service;benefits to employees on Jan. 1 80,000;3. Service Cost 60,000;4. Settlement rates 10%;5. Expected and actual return on plan;assets 15,000;6. actual funding contributions 175,000;7. amortization of prior service cost 20,000;8. Benefits paid 18,000;9. Accum. Other comprehensive income;balance at Jan 1. 0;10. the actuaries increased the projected;benefit obligation on Dec. 31 2008 70,000;In recording the 2008 JE, Granger should credit the Pension Liability account for what amount?

 

Paper#25436 | Written in 18-Jul-2015

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