What Was the Net Pension Asset / Liability Reported in the Balance

question 92

Multiple Choice

What was the net pension asset / liability reported in the balance sheet at the end of the year?

• A)Net pension asset of $50.
• B)Net pension asset of $24.
• C)Net pension liability of $50.
• D)Net pension liability of $24.Service cost (from pension expense column) = $62 = $(62) in the PBO column Interest cost (from pension expense column) = $49 = $(49) in the PBO column
• Loss on PBO (given) = $(8)
• Retiree benefits (from plan assets column) = $(65) = $65 in the PBO column
• Ending PBO = $(700) + (62) + (49) + (8) + 65 = $(754)
• Net pension liability = $(754) + 730 = $(24)

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