Please solve part C.The following answers are incorrect: $257,200; $42,100; $254,000 (b)| Your answer is correct.Determine the amounts of other comprehensive income and comprehensive income for 2020. Net income for 2020is $34,900. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g.(45).)Other comprehensive income (loss)-3200Comprehensive income (loss)31700SHOW SOLUTIONLINK TO TEXTAttempts: 4 of 5 used(c)X Your answer is incorrect. Try again.Compute the amount of accumulated other comprehensive income reported at December 31, 2020. (Enter lossusing either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)Accumulated other comprehensive income (loss)254000 Exercise 20-09 (Part Level Submission)Sweet Enterprises provides the following information relative to its defined benefit pension plan.Balances or Values at December 31, 2020Projected benefit obligation$2,763,600Accumulated benefit obligation1,991,900Fair value of plan assets2,298,100Accumulated OCI (PSC)211,900Accumulated OCI–Net loss (1/1/20 balance, 0)45,300Pension liability465,500Other pension plan data for 2020:Service cost$94,300Prior service cost amortization42,100Actual return on plan assets129,800Expected return on plan assets175,100Interest on January 1, 2020, projected benefit obligationContributions to plan252,60092,400Benefits paid139,100(a)Your answer is correct.Prepare the note disclosing the components of pension expense for the year 2020. (Enter amounts that reducepension expense with either a negative sign preceding the number e.g. -45 or parenthesis e.g. (45).)Components of Pension ExpenseService Cost94300Interest Cost252600Expected Return on Plan Assets v-175100Prior Service Cost Amortization42100Pension Expense213900

Accumulated other comprehensive income( OCI) is that income which includes unrealized gains and…

Exercise Sweet Enterprises provides the following information relative to its defined benefit pension p Balances or Values at December 31, 2020 Projected benefit obligation Accumulated benefit obligation Fair value of plan assets Accumulated OCI (PSC) Accumulated OCI-Net loss (1/1/20 balance, 0) $2,763,600 1,991,900 2,298,100 211,900 45,300 Pension liability 465,500 Other pension plan data for 2020: Service cost $94,300 Prior service cost amortization 42,100 Actual return on plan assets Expected return on plan assets Interest on January 1, 2020, projected benefit obligation Contributions to plan Benefits paid 129,800 175,100 252,600 92,400 139,100 (a)

Exercise Sweet Enterprises provides the following information relative to its defined benefit pension p Balances or Values at December 31, 2020 Projected benefit obligation Accumulated benefit obligation Fair value of plan assets Accumulated OCI (PSC) Accumulated OCI-Net loss (1/1/20 balance, 0) $2,763,600 1,991,900 2,298,100 211,900 45,300 Pension liability 465,500 Other pension plan data for 2020: Service cost $94,300 Prior service cost amortization 42,100 Actual return on plan assets Expected return on plan assets Interest on January 1, 2020, projected benefit obligation Contributions to plan Benefits paid 129,800 175,100 252,600 92,400 139,100 (a)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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