Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Pearl Enterprises provides the following information relative to its defined benefit pension plan. Balances or Values at December 31, 2020 Projected benefit obligation $2,743,700 Accumulated
Pearl Enterprises provides the following information relative to its defined benefit pension plan.
Balances or Values at December 31, 2020 | ||
Projected benefit obligation | $2,743,700 | |
Accumulated benefit obligation | 1,980,300 | |
Fair value of plan assets | 2,290,800 | |
Accumulated OCI (PSC) | 212,000 | |
Accumulated OCINet loss (1/1/20 balance, 0) | 45,800 | |
Pension liability | 452,900 | |
Other pension plan data for 2020: | ||
Service cost | $94,300 | |
Prior service cost amortization | 42,200 | |
Actual return on plan assets | 129,800 | |
Expected return on plan assets | 175,600 | |
Interest on January 1, 2020, projected benefit obligation | 254,300 | |
Contributions to plan | 92,700 | |
Benefits paid | 139,800 |
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) | $ |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started