A Company Reported $430,000 of Pension Expense in Its Income

question 7

Essay

A company reported $430,000 of pension expense in its income statement. The company fully paid the amount of pension expense owed to the trustee. The balance sheet showed that the pension asset increased by $29,000 over the year.
Required:
How much cash was paid to the pension trustee during the period?

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Definitions:

Linear Perspective

See perspective.

Venus Of Willendorf

A prehistoric statuette discovered in Austria, dating back to about 28,000 BCE, representing a female figure and thought to be related to fertility practices or goddess worship.

Anatomy

The branch of biology concerned with the study of the structure of organisms and their parts.

Fertility

The natural capability to produce offspring or yield crops; in humans, it's often evaluated as a component of reproductive health.