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Exercise 20-09 (Part Level Submission) Coronado Enterprises provides the following information relative to its defined benefit pension plan. $2,723,400 1,971,900 2,287,100 208,900 45,500 436,300 Balances
Exercise 20-09 (Part Level Submission) Coronado Enterprises provides the following information relative to its defined benefit pension plan. $2,723,400 1,971,900 2,287,100 208,900 45,500 436,300 Balances or Values at December 31, 2020 Projected benefit obligation Accumulated benefit obligation Fair value of plan assets Accumulated OCI (PSC) Accumulated OCI-Net loss (1/1/20 balance, 0) Pension liability Other pension plan data for 2020: Service cost Prior service cost amortization Actual return on plan assets Expected return on plan assets Interest on January 1, 2020, projected benefit obligation Contributions to plan Benefits paid $94,900 41,700 130,200 175,700 253,800 93,100 139,000 (a) 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 949001 Prior Service Cost Amortization 41700 Expected Return on Plan Assets (175700) Interest Cost 253800 Pension Expense 214700 (b) Your answer is partially correct. Try again. 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) Comprehensive income (loss) 31300 x your answer is incorrect. Try again. Compute the amount of accumulated other comprehensive income reported at December 31, Accumulated other comprehensive income (oss) -226,000
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