jds shipyards projected benefit obligation, accumulated benefit obligation and plan assest were $40 million, $30 million and $25 million respectfully, at the end of the year, a. pension liability or pension assest in balance sheet? pension asset reported in the balance sheet plan assests were $45 million instead?

jds shipyards projected benefit obligation, accumulated benefit obligation and plan assest were $40 million, $30 million and $25 million respectfully, at the end of the year, a. pension liability or pension assest in balance sheet? pension asset reported in the balance sheet plan assests were $45 million instead?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter19: Accounting For Post Retirement Benefits

Section: Chapter Questions

Problem 7RE

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JDS Shipyard's projected benefit obligation, accumulated benefit obligation, and plan assets were $65 million, $55 million, and $48 million, respectively, at the end of the year. a. What, if any, pension liability or pension asset must be reported in the balance sheet? b. What, if any, pension liability or pension asset must be reported in the balance sheet if the plan assets were $78 million instead? a b Net pension liability Net pension asset Answer is not complete. million million
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JDS Shipyard's projected benefit obligation, accumulated benefit obligation, and plan assets were $90 million, $80 million, and $76 million, respectively, at the end of the year. Required: a. What, if any, pension liability or pension asset must be reported in the balance sheet? b. What, if any, pension liability or pension asset must be reported in the balance sheet if the plan assets were $100 million instead? Note: For all requirements, enter your answer in millions (i.e., 10,000,000 should be entered as 10). a. b. Net pension asset Net pension liability million million 4
JDS Shipyard’s projected benefit obligation, accumulated benefit obligation, and plan assets were $40 million, $30 million, and $25 million, respectively, at the end of the year. What, if any, pension liability must be reported in the balance sheet? What would JDS report if the plan assets were $45 million instead?
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