For 2017, Carson Majors Inc. had pension expense of $77 million and contributed $55 million to the pension fund. Which of the following is the journal entry that Carson Majors would make to record pension expense and funding?(a) Pension Expense 77,000,000Pension Asset/Liability 22,000,000Cash 55,000,000 (b) Pension Expense 77,000,000Pension Asset/Liability 22,000,000Cash 99,000,000 (c) Pension Expense 55,000,000Pension Asset/Liability 22,000,000Cash 77,000,000 (d) Pension Expense 22,000,000Pension Asset/Liability 55,000,000Cash 77,000,000
For 2017, Carson Majors Inc. had pension expense of $77 million and contributed $55 million to the pension fund. Which of the following is the journal entry that Carson Majors would make to record pension expense and funding?(a) Pension Expense 77,000,000Pension Asset/Liability 22,000,000Cash 55,000,000 (b) Pension Expense 77,000,000Pension Asset/Liability 22,000,000Cash 99,000,000 (c) Pension Expense 55,000,000Pension Asset/Liability 22,000,000Cash 77,000,000 (d) Pension Expense 22,000,000Pension Asset/Liability 55,000,000Cash 77,000,000
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter19: Accounting For Post Retirement Benefits
Section: Chapter Questions
Problem 6MC
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For 2017, Carson Majors Inc. had pension expense of $77 million and contributed $55 million to the pension fund. Which of the following is the
(a) Pension Expense 77,000,000
Pension Asset/Liability 22,000,000
Cash 55,000,000
(b) Pension Expense 77,000,000
Pension Asset/Liability 22,000,000
Cash 99,000,000
(c) Pension Expense 55,000,000
Pension Asset/Liability 22,000,000
Cash 77,000,000
(d) Pension Expense 22,000,000
Pension Asset/Liability 55,000,000
Cash 77,000,000
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