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What is the amount that everdeen should report

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Reference no: EM133143301

Question - Everdeen Corporation has the following information provided below:

December 31, 2022

Assets and obligations

Plan assets [at fair value] $200,000

Accumulated benefit obligation 370,000

Projected benefit obligation 400,000

Other Items

Pension asset / liability, January 1, 2022 10,000

Contributions 120,000

Accumulated other comprehensive loss 167,900

There were no actuarial gains or losses at January 1, 2022. The average remaining service life of employees is 10 years.

What is the amount that Everdeen should report as its pension liability on its balance sheet as of December 31, 2022?

Reference no: EM133143301

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