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3 years ago

The following information pertains to Zion Company’s defined benefit pension plan:_______.

Business

1 answer:

kobusy [5.1K]3 years ago

5 0

Answer:

c. $45,000 liability

Explanation:

Fair Value of Plan Asset = Return on asset + employer contribution - Benefit paid

= $22,000 + $40,000 - $0

= $62,000

Projected Benefits Obligation = Service cost + interest cost

= $17,000 + $40,000

= $57,000

Pension asset / (liability) = Opening pension asset/ Liability + Plan asset - Projected Benefit Obligation - Amortization

= $2,000 + $62,000 - $57,000 - $52,000

= -$45,000

= $45000 Pension Liability

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