(L05) Norton Co. had the following amounts related to its pension plan in 2017. Actuarial liability loss...
Question:
(L05) Norton Co. had the following amounts related to its pension plan in 2017.
Actuarial liability loss for 2017 $28,000 Unexpected asset gain for 2017 18,000 Accumulated other comprehensive income (G/L) (beginning balance) 7,000 Cr.
Determine for 2017
(a) Norton’s other comprehensive income (loss) and
(b) comprehensive income. Net income for 2017 is
$26,000; no amortization of gain or loss is necessary in 2017.
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