Taveras Enter- E20.8 (L05) (Disclosures: Pension Expense and Other Comprehensive Income prises provides the following...
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Taveras Enter- E20.8 (L05) (Disclosures: Pension Expense and Other Comprehensive Income prises provides the following information related to its defined benefit pension plan. Balances or Values at December 31, 2019 Defined benefit obligation 2,729,907 Fair value of plan assets 2,278,329 Accumulated OCI Net loss (1/1/19 balance. -0-) 1,700 Other pension plan data: Service cost for 2019 94,000 Actual return on plan assets in 2019 130,000 Interest on January 1, 2019, defined benefit obligation 157,127 Contributions to plan in 2019 93,329 Benefits paid 140,000 Discount interest) rate 6% Instructions a. Prepare the note disclosing the components of pension expense for the year 2019. b. Determine the amounts of other comprehensive income and comprehensive income for 2019. Net income for 2019 is 35,000. c Compute the amount of accumulated other comprehensive income reported at December 31, 2019
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