Pharoah Co. had the following amounts related to its pension plan in 2017. Actuarial liability loss for 2017 Unexpected asset gain for 2017 $30,800 17,000 7,700 Cr Accumulated other comprehensive income (G/L) (beginning balance) Determine for 2017: (a) Pharoah's other comprehensive income (loss), and (b) comprehensive income. Net income for 2017 is $26,900; no amortization of gain or loss is necessary in 2017.

Pharoah Co. had the following amounts related to its pension plan in 2017. Actuarial liability loss for 2017 Unexpected asset gain for 2017 $30,800 17,000 7,700 Cr Accumulated other comprehensive income (G/L) (beginning balance) Determine for 2017: (a) Pharoah's other comprehensive income (loss), and (b) comprehensive income. Net income for 2017 is $26,900; no amortization of gain or loss is necessary in 2017.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter19: Accounting For Post Retirement Benefits

Section: Chapter Questions

Problem 7RE

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