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Exercise 20-09 (Part Level Submission) Pronghorn 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) Pronghorn Enterprises provides the following information relative to its defined benefit pension plan. Balances or Values at December 31, 2020 Projected benefit obligation $2,722,100 Accumulated benefit obligation 1,992,400 Fair value of plan assets 2,258,300 Accumulated OCI (PSC) 208,100 Accumulated OCINet loss (1/1/20 balance, 0) 45,600 Pension liability 463,800 Other pension plan data for 2020: Service cost $94,600 Prior service cost amortization 42,300 Actual return on plan assets 130,500 Expected return on plan assets 176,100 Interest on January 1, 2020, projected benefit obligation 251,600 Contributions to plan 92,600 Benefits paid 141,400 Prepare the note disclosing the components of pension expense for the year 2020. (Enter amounts that re parenthesis e.g. (45).) Components of Pension Expense Service Cost 94600 Interest Cost 251600 Expected Return on Plan Assets -176100 Prior Service Cost Amortization V 42300 Pension Expense 212400 LINK TO TEXT (b) Your answer is correct. Determine the amounts of other comprehensive income and comprehensive income for 2020. Net income fo parentheses e.g. (45).) Other comprehensive income (loss) -3300 Comprehensive income (loss) 31600 (c) 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) LINK TO TEXT
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