The following incomplete (columns have missing amounts) pension spreadsheet is for Old Tucson Corporation (OTC).
-What was the balance of the net pension asset/liability reported in the balance sheet at the end of the previous year?

Question

The following incomplete (columns have missing amounts) pension spreadsheet is for Old Tucson Corporation (OTC).  
-What was the balance of the net pension asset/liability reported in the balance sheet at the end of the previous year?

Quizplus · Accepted Answer

Service cost (from pension expense column) = $62
Interest cost = ($574) + 500 + 62 (from pension expense column) + $25 - 43 = ($30) = $30 in pension expense column
Expected return on assets (given) = ($23)
Gain on assets (given) = $2
Loss on PBO (given) = ($25)
Cash contributions (given) = $56 Beginning net pension liability = ($286) + 62 + 30 - 23 - 2 +25 - 56 = ($250)

The Following Incomplete (Columns Have Missing Amounts) Pension Spreadsheet Is