Crane Corp., a company whose stock is publicly traded, provides a
noncontributory defined-benefit pension plan for its employees. The company's actuary has provided the following information for the year ended December 31, 2018:
Projected benefit obligation $622000
Accumulated benefit obligation 449000Fair value of plan assets 740000Service cost 180000Interest on projected benefit obligation 12000Amortization of prior service cost 36000Expected and actual return on plan assets 46500
The market-related asset value equals the fair value of plan assets. No contributions have been made for 2018 pension cost. In its December 31, 2018 balance sheet, Crane should report a pension asset / liability of
Questions & Answers
Have a Question?
Be the first to ask a question about this.