Presented below is information related to Noble Inc. as of December 31, 2015. $\begin{array}{lc}
\text { Accumulated } \mathrm{OCl}(\mathrm{G} / \mathrm{L}) & \$ 0,000 \
\text { Projected benefit obligation } & 3,650,000 \
\text { Accumulated benefit obligation } & 3,420,000 \
\text { Vested benefits } & 1,620,000 \
\text { Plan assets (at fair value) } & 3,354,000 \
\text { Accumulated OCl (PSC) } & -0-
\end{array}$ The amount reported as the pension liability on Noble's balance sheet at December 31, 2015 is as follows:

Question

Quizplus · Accepted Answer

The pension liability is calculated as the projected benefit obligation minus the plan assets. In this case, the projected benefit obligation is $3,650,000 and the plan assets are $3,354,000, so the pension liability is $296,000.

Presented Below Is Information Related to Noble Inc The Amount Reported as the Pension Liability on Noble's Balance