At the end of 2024, Cambridge Inc. had the following summary totals after completing the 2024 pension worksheet: Pension Cash expense Net Pension Asset/Liability PBO Plan assets 45,000 12,000 ? 600,000 567,000 What is the pension expense entry for 2024? OA. Debit Credit Pension expense 45,000 Cash 12,000 Net pension liability 33,000 O B. Pension expense 57,000 Net pension liability 57,000 OC. Debit Credit Pension expense 45,000 Net pension liability 45,000 O D. Debit Credit Net pension asset 33,000 Cash 12,000 Pension expense 45,000

At the end of 2024, Cambridge Inc. had the following summary totals after completing the 2024 pension worksheet: Pension Cash expense Net Pension Asset/Liability PBO Plan assets 45,000 12,000 ? 600,000 567,000 What is the pension expense entry for 2024? OA. Debit Credit Pension expense 45,000 Cash 12,000 Net pension liability 33,000 O B. Pension expense 57,000 Net pension liability 57,000 OC. Debit Credit Pension expense 45,000 Net pension liability 45,000 O D. Debit Credit Net pension asset 33,000 Cash 12,000 Pension expense 45,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter19: Accounting For Post Retirement Benefits

Section: Chapter Questions

Problem 5E

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