Presented below is information related to Decker Manufacturing Company as of Dec

Question

Presented below is information related to Decker Manufacturing Company as of December 31,2011:

Projected benefit obligation in excess of plan assets $900,000
accumulated OCI - net gain 300,000
accumulated OCI (PSC) 405,000

The amount for the prior service cost is related to an increase in benefits. the fair value of the pension plan assets is 600,000
the pension asset/liability reported on the balance sheet at december 31, 2011 is

A) pension liability of 300,000
B) pension liability of 600,000
C) pension liability of 900,000
D) pension liability of 1,305,000

Explanation / Answer

C) pension liability of 900,000

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