Reporting of Other Comprehensive Income, Disclosure

The following information relates to the contributory, defined pension plan of Klarbrun Inc.

Required

a$.$ Prepare the portion of the pension disclosure showing the components of pension expense.

b$.$ Prepare the portion of the pension disclosure showing the reconciliation of the projected benefit obligation, plan assets, and funded

balance.

c$.$ Prepare the statement of comprehensive income, assuming there are no other OCl items except those related to pensions.

d$.$ Determine the ending balance in accumulated other comprehensive income.

Pension Disclosures a$.$ Prepare the portion of the pension disclosure showing the components of pension expense.

Service cost Answer

$0$

Interest cost Answer

$0$

Expected return on plan assets Answer

$0$

Amortization of prior service costs Answer

$0$

Total pension expense Answer

$0$

b$.$ Prepare the portion of the pension disclosure showing the reconciliation of the projected benefit obligation, plan assets, and funded balance.

The year$-$end status of this plan was as follows:

Change in pension benefit obligation

Pension benefit obligation, January $1$ Answer

$0$

Service cost Answer

$0$

Interest cost Answer

$0$

Benefit payments Answer

$0$

Pension benefit obligation, Dec. $31$ Answer

$0$

Change in plan assets

Plan assets, January $1$ Answer

$0$

Actual return on plan assets Answer

$0$

Company contributions Answer

$0$

Plan participants contributions Answer

$0$

Benefit payments Answer

$0$

Plan assets, Dec. $31$ Answer

$0$

Funded status at December $31$ Answer

$0$ c$.$ Prepare the statement of comprehensive income, assuming there are no other OCI items except those related to pensions.

Note: Do not use negative signs with your answers.

Comprehensive Income

For the Year Ended December $31$

Revenue ##

Operating expense Answer

$0$

Other operating expense

Other components of net periodic pension cost Answer

$0$

Net Income Answer

$0$

Other comprehensive income $($loss$)$

Prior service cost amortization Answer

$0$

Total comprehensive income $($loss$)$ Answer

$0$

d$.$ Determine the ending balance in accumulated other comprehensive loss.

Note: Indicate a loss with a negative sign.

Accumulated other comprehensive income $($loss$),$ January $1$ Answer

$0$

Prior service cost amortization Answer

$0$

Accumulated other comprehensive income $($loss$),$ December $31$ Answer

$0$