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Question C only Bridgeport Enterprises provides the following information relative to its defined benefit pension plan. Balances or Values at December 31, 2020 Projected benefit
Question C only
Bridgeport Enterprises provides the following information relative to its defined benefit pension plan. Balances or Values at December 31, 2020 Projected benefit obligation $2,761,900 Accumulated benefit obligation 1,970,300 Fair value of plan assets 2,283,700 Accumulated OCI (PSC) 207,900 Accumulated OCI-Net loss (1/1/20 balance, 0) 45,600 Pension liability 478,200 Other pension plan data for 2020: Service cost $94,400 Prior service cost amortization 42,000 Actual return on plan assets 128,900 Expected return on plan assets 174,500 Interest on January 1, 2020, projected benefit obligation 251,500 Contributions to plan 94,200 Benefits paid 141,200 Your answer is correct. Determine the amounts of other comprehensive income and comprehensive income for 2020. Net income for 2020 is $34,600. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Other comprehensive income (loss) $ (3600) Comprehensive income (loss) $ 31000 Attempts: 1 of 3 used (c) 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) $ Save for Later Attempts: 0 of 3 used SubmitStep by Step Solution
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