Business, 08.04.2020 01:57 quanyacoles124

The following incomplete (columns have missing amounts) pension spreadsheet is for Old Tucson Corporation (OTC).

($ in millions) debit (credit) PBO Plan assets Prior service cost Net (Gain) loss Pension Expenses Cash Net Pension (Liability)/ Asset
Beginning Balance (590) 85
Service cost 89
Interest cost
Expected return on assets (32)
Gain/loss on assets (6.50)
Amortization of:
Prior service cost (15)
Net gain loss
Loss on PBO (34) (34)
Contribution to funds (83)
Retiree benefits paid 61 (61)
Ending balance (679) 341 81 105 (339)

What was the balance of the net pension asset/liability reported in the balance sheet at the end of the previous year?

1. Net pension asset of $310.50.

2. Net pension asset of $555.00.

3. Net pension liability of $555.00.

4. Net pension liability of $310.00.

Answers: 3

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The following incomplete (columns have missing amounts) pension spreadsheet is for Old Tucson Corpor...

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