Question
Cullumber Enterprises provides the following information relative to its defined benefit pension plan. Balances or Values at December 31, 2020 Projected benefit obligation $2,737,400 Accumulated
Cullumber Enterprises provides the following information relative to its defined benefit pension plan.
Balances or Values at December 31, 2020 | ||
Projected benefit obligation | $2,737,400 | |
Accumulated benefit obligation | 1,997,000 | |
Fair value of plan assets | 2,273,800 | |
Accumulated OCI (PSC) | 210,100 | |
Accumulated OCINet loss (1/1/20 balance, 0) | 45,600 | |
Pension liability | 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 | 253,900 | |
Contributions to plan | 93,700 | |
Benefits paid | 141,100 |
Determine the amounts of other comprehensive income and comprehensive income for 2020. Net income for 2020 is $34,700. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
Other comprehensive income (loss) | $ | |
Comprehensive income (loss) | $ |
(c)
Compute the amount of accumulated other comprehensive income reported at December 31, 2020. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
Accumulated other comprehensive income (loss) | $ |
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