Indigo Enterprises provides the following information relative to its defined benefit pension plan. Balances or Values...
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Indigo Enterprises provides the following information relative to its defined benefit pension plan. Balances or Values at December 31, 2020 Projected benefit obligation Accumulated benefit obligation $2,737,40o 1,997,00o Fair value of plan assets 2,273,800 Accumulated OCI (PSC) 210,100 Accumulated OCI-Net loss (1/1/20 balance, 0) Pension liability 45,600 463,600 Other pension plan data for 2020: Service cost $94,100 Prior service cost amortization 42,100 Actual return on plan assets 131,000 Expected return on plan assets 176,600 Interest on January 1, 2020, projected benefit obligation Contributions to plan 253,900 93,700 Benefits paid 141,100 (a) Prepare the note disclosing the components of pension expense for the year 2020 (b) Determine the amounts of other comprehensive income and comprehensive income for 2020. (c) Compute the amount of accumulated other comprehensive income reported at December 31, 2020. Indigo Enterprises provides the following information relative to its defined benefit pension plan. Balances or Values at December 31, 2020 Projected benefit obligation Accumulated benefit obligation $2,737,40o 1,997,00o Fair value of plan assets 2,273,800 Accumulated OCI (PSC) 210,100 Accumulated OCI-Net loss (1/1/20 balance, 0) Pension liability 45,600 463,600 Other pension plan data for 2020: Service cost $94,100 Prior service cost amortization 42,100 Actual return on plan assets 131,000 Expected return on plan assets 176,600 Interest on January 1, 2020, projected benefit obligation Contributions to plan 253,900 93,700 Benefits paid 141,100 (a) Prepare the note disclosing the components of pension expense for the year 2020 (b) Determine the amounts of other comprehensive income and comprehensive income for 2020. (c) Compute the amount of accumulated other comprehensive income reported at December 31, 2020.
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Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
Posted Date:
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