Answer:
$1,260,000
Explanation:
Calculation for How much should the government report as expenditures for pensions for its current fiscal year
Based on the information we were told that
the government made contribution of the amount of $1,080,000 to their employees contribution retirement accounts in which at the government fiscal year-end, they still owes the amount of $180,000 to their employees contribution retirement accounts which means that the amount that the should government report as expenditures for pensions for theri current fiscal year will be:
Using this formula
Pension Expenditures=Amount contributed to the employees retirement accounts+ Amount owes by the government to its employees contribution retirement accounts
Let plug in the formula
Pension Expenditures=$1,080,000+$180,000
Pension Expenditures=$1,260,000
Therefore the amount that the government should report as expenditures for pensions for its current fiscal year will be $1,260,000
