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Compute the pension asset reported on the balance sheet

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Reference no: EM132592342

Question - Presented below is information related to Ivanhoe Manufacturing Company as of December 31, 2018:

Projected benefit obligation $1800000

Accumulated OCI -net gain 620000

Accumulated OCI (PSC) 830000

The amount for the prior service cost is related to an increase in benefits. The fair value of the pension plan assets is $1298000.

Required - Compute the pension asset/liability reported on the balance sheet at December 31, 2018?

a) Pension liability of $1298000.

b) Pension liability of $1800000.

c) Pension liability of $2630000.

d) Pension liability of $502000.

Reference no: EM132592342

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