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Homework answers / question archive / At December 31, 2020, Windsor Corporation had a projected benefit obligation of $504,700, plan assets of $342,200, and prior service cost of $128,700 in accumulated other comprehensive income
At December 31, 2020, Windsor Corporation had a projected benefit obligation of $504,700, plan assets of $342,200, and prior service cost of $128,700 in accumulated other comprehensive income.
Determine the pension asset/liability at December 31, 2020. (Enter liability using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
Pension asset/liability at December 31, 2020
Computation of Pension asset/liability at December 31, 2020:
Plant Assets = $342,200
Less: Projected Benefit Obligation = $504,700
Pension Liability at December 31, 2020 = -$162,500