Reagan Air Conditioning Company Has Three Pension Plans for Three

question 89

Essay

Reagan Air Conditioning Company has three pension plans for three groups of employees: production,service,and administration.Information for the three plans is as follows:
$\begin{array}{lccccc}&\text {Production}& \text {Service}& \text {Administration}& \text {Total }\\\hline\\\text { Pension assets } & 7,000,000 & 2,000,000 & 2,500,000 & 11,500,000 \\\\\text { Pension Obligation } & (7,300,000) & (2,600,000) & (1,800,000) & (11,700,000) \\\\\text { Net pension surplus (deficit) } & (300,000 & (600,000) & 700,000 & (200,000) \\\\\text { Defined benefit asset (liability) } & (280,000) & 700,000 & (1,200,000) & (780,000)\end{array}$ Requirement
Provide an excerpt of Reagan's balance sheet showing the presentation of its pension plans.

---

Definitions:

Price Of Steel

The cost at which steel is bought or sold, which can vary due to market demand, supply constraints, and global economic conditions.

Supply Of Automobiles

Refers to the total quantity of cars and other vehicles available for purchase in the market.

Resource Influence

The impact that the availability, quality, and management of natural resources have on an economy's development and performance.

Substitute Resources

Resources or goods that can replace each other in use, providing alternatives for consumers or producers when prices rise or supply diminishes.