What is the additional minimum liability for the year if any

Assignment Help Accounting Basics

Reference no: EM13117656

a. What does it mean when a bond is issued at a premium or a discount?

b. Discuss how the amortization of the discount or premium get reported on the income statement and the balance sheet?

c. Your company has a pension plan. At the end of the year your company reports an ABO of $250,000, PBO of $300,000 and Plan Assets of $230,000 for the year ended December 31, 2011.

In scenario 1: If your company reported accrued pension liability for the period of $10,000, what is the additional minimum liability for the year if any?

Reference no: EM13117656

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