Presented below is information related to Bitner Manufacturing Company as of December 31, 2008:
The amount for the prior service cost is related to a decrease in benefits. The fair value of the pension plan assets is $600,000.
The pension asset/liability reported on the balance sheet at December 31, 2008 is a
A) $300,000.
B) $600,000.
C) $900,000.
D) $1,305,000.

Question

Presented below is information related to Bitner Manufacturing Company as of December 31, 2008:
 The amount for the prior service cost is related to a decrease in benefits. The fair value of the pension plan assets is $600,000.
The pension asset/liability reported on the balance sheet at December 31, 2008 is a
A) $300,000. 
B) $600,000. 
C) $900,000. 
D) $1,305,000.

Quizplus · Accepted Answer

The Answer of Presented below is information related to Bitner Manufacturing Company as of December 31, 2008:
 The amount for the prior service cost is related to a decrease in benefits. The fair value of the pension plan assets is $600,000.
The pension asset/liability reported on the balance sheet at December 31, 2008 is a
A) $300,000. 
B) $600,000. 
C) $900,000. 
D) $1,305,000.

Presented Below Is Information Related to Bitner Manufacturing Company as of December