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31 The following information relates to the defined benefit pension plan of Wendy Corporation for the year ending December 31, 2012: Pension benefit obligation Pension fund assets Service cost Interest cost Expected return on fund assets $4,600,000 5,035,000 450,000 32,500 425,000 What is the net pension asset or liability for Wendy corporation in 2012? $435,000 pension asset $425,000 pension asset $425,000 pension liability $435,000 pension liability

31 The following information relates to the defined benefit pension plan of Wendy Corporation for the year ending December 31, 2012: Pension benefit obligation Pension fund assets Service cost Interest cost Expected return on fund assets $4,600,000 5,035,000 450,000 32,500 425,000 What is the net pension asset or liability for Wendy corporation in 2012? $435,000 pension asset $425,000 pension asset $425,000 pension liability $435,000 pension liability

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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31 The following information relates to the defined benefit pension plan of Wendy Corporation for the year ending December 31, 2012: Pension benefit obligation Pension fund assets Service cost Interest cost Expected return on fund assets $4,600,000 5,035,000 450,000 32,500 425,000 What is the net pension asset or liability for Wendy corporation in 2012? $435,000 pension asset $425,000 pension asset $425,000 pension liability $435,000 pension liability
Transcribed Image Text:31 The following information relates to the defined benefit pension plan of Wendy Corporation for the year ending December 31, 2012: Pension benefit obligation Pension fund assets Service cost Interest cost Expected return on fund assets $4,600,000 5,035,000 450,000 32,500 425,000 What is the net pension asset or liability for Wendy corporation in 2012? $435,000 pension asset $425,000 pension asset $425,000 pension liability $435,000 pension liability
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