Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Taveras Enterprises provides the following information relative to its defined benefit pension plan. Balances or Values at December 31, 2014 Projected benefit obligation $2,811,770 Accumulated

Taveras Enterprises provides the following information relative to its defined benefit pension plan.

Balances or Values at December 31, 2014

Projected benefit obligation $2,811,770
Accumulated benefit obligation 1,985,780
Fair value of plan assets 2,362,620
Accumulated OCI (PSC) 214,990
Accumulated OCINet loss (1/1/14 balance, 0) 46,430
Pension liability 449,150
Other pension plan data for 2014:
Service cost $96,370
Prior service cost amortization 43,590
Actual return on plan assets 137,960
Expected return on plan assets 184,390
Interest on January 1, 2014, projected benefit obligation 260,080
Contributions to plan 93,480
Benefits paid

142,000

Net income for 2014 is $36,190.

Compute the amount of accumulated other comprehensive income reported at December 31, 2014.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Personal Trainer 3 0 Online For Albright/Ingram/Hills Managerial Accounting Information For Decisions

Authors: Thomas L. Albright, Robert W. Ingram, John S. Hill

4th Edition

0324233388, 978-0324233384

More Books

Students also viewed these Accounting questions