Select One: A) A Debit to Deferred Outflow of Resources-Demographic Factors for $22,500 B) A...
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Accounting
Select One:
A) A Debit to Deferred Outflow of Resources-Demographic Factors for $22,500
B) A Credit to Deferred Inflow of Resources-Investment Gain for $45,000
C) A Credit to Net Pension Liability for $45,000
D) A Debit to Net Pension Liability for $20,000
The city of Redder has a single-employer defined benefit pension plan with a trust that meets GASB requirements to provide retiree pension benefits to its Water Utility Enterprise Fund employees. The city contributed $630,000 cash to the pension plan during its fiscal year ending September 30, 2022. The actuary provides the following additional information in its reporting package to the city of Redder accounting department for its use in preparing the Water Utility Enterprise Fund's financial statements. Actuarial Provided Information Net Pension Liability Deferred inflow of resources-investment gain Deferred outflow of resources-demographic factors Fiscal Year Ending Fiscal Year Ending September 30, 2021 September 30, 2022 $6,300,000 $6,345,000 $360,000 $315,000 $765,000 $742,500 Which of the following entries needs to be made by the Water Utility Enterprise Fund on September 30, 2022
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