Montoya Company Has Available The Following Information About Its Defined Benefi

Montoya Company has available the following information about its defined benefit pension plan for the year ended December 31,2011.$ 25,000683,000630,000300,000505,000725,000865,00090,00064,000a. Calculate the pension asset/liability to be recorded at december 31, 2011.

Solution:(a) $865,000 – $630,000 = $235,000 Pension liability.(b) [$90,000 – ($865,000 X 10%)] ÷ 10 = $350.

 

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