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Pina Company sponsors a defined benefit pension plan. The corporation's actuary provides the following information about the plan. January 1, 2020 $1.610 1,910 2.400 1.680
Pina Company sponsors a defined benefit pension plan. The corporation's actuary provides the following information about the plan. January 1, 2020 $1.610 1,910 2.400 1.680 Vested benefit obligation Accumulated benefit obligation Projected benefit obligation Plan assets (fair value) Settlement rate and expected rate of return Pension asset/liability Service cost for the year 2020 Contributions (funding in 2020) Benefits paid in 202- December 31, 2020 $1,910 2,590 3,120 2.430 10 % ? 400 660 180 720 (a) Compute the actual return on the plan assets in 2020. Actual return on the plan assets $ (b) Compute the amount of the other comprehensive income (G/L) as of December 31, 2020. (Assume the January 1, 2020, balance was zero.) (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Net pension liability gains and losses $ (c) Compute the amount of net gain or loss amortization for 2020 (corridor approach). Net gain or loss amortization $ (d) Compute pension expense for 2020. Pension expense $
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