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(Disclosures: Pension Expense and Other Comprehensive Income) Taveras Enterprises provides the following information relative to its defined benefit pension plan. Balances of Values at December
(Disclosures: Pension Expense and Other Comprehensive Income) Taveras Enterprises provides the following information relative to its defined benefit pension plan. Balances of Values at December 31, 2010 Projected benefit obligation $2,797,300 Accumulated benefit obligation 1,983,500 Fair value of plan assets 2,298,500 Accumulated OCI (PSC) 210,200 Accumulated OCI - Net loss (1/1/10 balance -0-) 45,790 Pension liability 242,810 Other pension plan data Service cost for 2010 $94,200 Prior service cost amortization for 2010 51,100 Actual return on plan assets in 2010 130,000 Expected return on plan assets in 2010 184,250 Interest on January 1, 2010 projected benefit obligation 255,780 Contributions to the plan in 2010 94,174 Benefits paid 140,000 (a) Prepare the note disclosing the components of pension expense for the year 2010. (For negative numbers use either a negative sign preceding the number, e.g. -45 or parenthesis, e.g. (45).) Service cost $ Interest cost $ (b) Determine the amounts of other comprehensive income and comprehensive income for 2010. Net income for 2010 is $35,150. Other comprehensive income $ Comprehensive income $ (c) Compute the amount of accumulated other comprehensive income reported at December 31, 2010. $
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