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Exercise 20-09 (Part Level Submission) Coronado Enterprises provides the following information relative to its defined benefit pension plan. Balances or Values at December 31, 2020
Exercise 20-09 (Part Level Submission) Coronado Enterprises provides the following information relative to its defined benefit pension plan. Balances or Values at December 31, 2020 Projected benefit obligation $2,723,400 Accumulated benefit obligation 1,971,900 Fair value of plan assets 2,287,100 Accumulated OCI (PSC) 208,900 Accumulated OCINet loss (1/1/20 balance, 0) 45,500 Pension liability 436,300 Other pension plan data for 2020: Service cost $94,900 Prior service cost amortization 41,700 Actual return on plan assets 130,200 Expected return on plan assets 175,700 Interest on January 1, 2020, projected benefit obligation 253,800 Contributions to plan 93,100 Benefits paid 139,000 Your answer is correct. Prepare the note disclosing the components of pension expense for the year 2020. (Enter amounts that reduce pension expense with either a negative sign preceding the number e.g.-45 or parenthesis e.g. (45).) Components of Pension Expense Service Cost 94900 Prior Service Cost Amortization 41700 Expected Return on Plan Assets (175700) 253800 Interest Cost E Pension Expense 214700 Your answer is correct. Determine the amounts of other comprehensive income and comprehensive income for 2020. Net income for 2020 is $35,100. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Other comprehensive income (loss) (3800) Comprehensive income (loss) 31300 X Your answer is incorrect. Try again. 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) 254400
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