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On Jan 1 2020, X Co started a defined benefit pension plan for its employees. Th...
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On Jan 1 2020, X Co started a defined benefit pension plan for its employees. The service cost for 2020 is 200000 USD. Funding is 150000 each Jan 1 beginning on jan 1 2020. The interest rate used for discount purposes to determine the projected benefit obligation is 10%. Both actual and expected earnings on Plan Assets are 8%. What pension liability should this company report on its Dec 31 2020 Balance Sheet
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