A company failed to report the $600,000 additional liability for its underfunded pension plan.Its tax rate is 30%.As result of this error,retained earnings would be:
A)Unaffected.
B)Overstated by $600,000.
C)Overstated by $420,000.
D)Overstated by $180,000.

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The Answer of A company failed to report the $600,000 additional liability for its underfunded pension plan.Its tax rate is 30%.As result of this error,retained earnings would be:
A)Unaffected.
B)Overstated by $600,000.
C)Overstated by $420,000.
D)Overstated by $180,000.

A Company Failed to Report the $600,000 Additional Liability for Its