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E20-9 (L05) (Disclosures: Pension Expense and Other Comprehensive Income) Taveras Enterprises provides the following information relative to its defined benefit pension plan Balances or Values
E20-9 (L05) (Disclosures: Pension Expense and Other Comprehensive Income) Taveras Enterprises provides the following information relative to its defined benefit pension plan Balances or Values at December 31, 2017 $2,737,000 1,980,000 2,278,329 Projected benefit obligation Accumulated benefit obligation Fair value of plan assets Accumulated OCI (PSC) Accumulated OC-Net loss (1/1/17 balance, -0-) Pension liability Other pension plan data for 2017: 210,000 45,680 458,671 Service cost 94,000 42,000 Prior service cost amortization Actual return on plan assets Expected return on plan assets Interest on January 1, 2017, projected benefit obligation Contributions to plan Benefits paid 130,000 175,680 253,000 93,329 140,000 Instructions Prepare the note disclosing the components of pension expense for the year 2017. (a) (b) Determine the amounts of other comprehensive income and comprehensive income for 2017. Net inconme for 2017 is $35,000. (c) Compute the amount of accumulated other comprehensive income reported at December 31, 2017
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