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Need help with section C please explain how you came to find the answer Oriole Enterprises provides the following information relative to its defined benefit
Need help with section C please explain how you came to find the answer
Oriole Enterprises provides the following information relative to its defined benefit pension plan. Balances or Values at December 31, 2020 Projected benefit obligation $2,726,200 Accumulated benefit obligation 1,996,100 Fair value of plan assets 2,263,000 Accumulated OCI (PSC) 210,000 Accumulated OCI-Net loss (1/1/20 balance, 0) 45,900 Pension liability 463,200 Other pension plan data for 2020: Service cost $94, 200 Prior service cost amortization 42,100 Actual return on plan assets 130,000 Expected return on plan assets 175,900 Interest on January 1, 2020, projected benefit obligation 250,700 Contributions to plan 92,300 Benefits paid 139,800 (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 T Service Cost 94200 Interest Cost 2507001 Prior Service Cost Amortization V 42100 Expected Return on Plan Assets (175900) Pension Expense 211100l LINK TO TEXT (b) Your answer is correct. Determine the amounts of other comprehensive income and comprehensive income for 2020. Net income for 2020 is $34,700. (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) 30900 SHOW SOLUTION LINK TO TEXT 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)
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