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Determine the value of the defined benefit pension liability

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Reference no: EM132863308

Question - A company has a defined benefit pension asset of $750,000 at the beginning of the year. The company contributes $2,500,000 to the pension during the year and records a pension expense of $2,200,000.

1) Determine the value of the defined benefit pension liability at year-end.

2) Prepare the journal entries.

Reference no: EM132863308

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