(Answered) Question-foster corporation received the following report

Accounting

Question-

Foster Corporation received the following report from its actuary at the end of the year:

	December 31, 2012	December 31, 2013
Projected benefit obligation	$1,800,000	$2,000,000
Accumulated benefit obligation	1,300,000	1,480,000
Fair value of pension plan assets	1,380,000	1,440,000

The amount reported as the pension liability on Foster's balance sheet at December 31, 2012 is

a. $0.

b. $400,000.

c. $420,000.

d. $500,000.

Additional information-

The problem relates to Basics Accounting and estimate the pension liability according to the balance sheet.

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