Solution-Determine the balance of prepaid or accrued

Determine the balance of prepaid or accrued benefit cost

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Reference no: EM133182981

Question - Ramos Company reported the following information with respect to a defined benefit plan:

	2020	2021
Employee benefit expense	350,000.00	1,000,000.00
Contribution	700,000.00	1,050,000.00

Determine the balance of prepaid or accrued benefit cost that will reflect in the statement of financial position in 2021:

a. 100,000 (debit)

b. 100,000(credit)

c. 50,000 (debit)

d. 50,000 (credit)

Reference no: EM133182981

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Determine the balance of prepaid or accrued benefit cost

Reference no: EM133182981

Reference no: EM133182981

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