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Phoenix Ltd. had the following amounts related to its pension plan in 2018. Actuarial liability loss for 2018 Unexpected asset gain for 2018 $25,600 14,500 Accumulated other comprehensive income (G/L) (beginning 6,200 Cr balance) Determine for 2018: (a) Phoenix Ltd.'s other comprehensive income (loss), and (b) comprehensive income. Net income for 2018 is $29,300; no amortization of gain or loss is necessary in 2018.

Phoenix Ltd. had the following amounts related to its pension plan in 2018. Actuarial liability loss for 2018 Unexpected asset gain for 2018 $25,600 14,500 Accumulated other comprehensive income (G/L) (beginning 6,200 Cr balance) Determine for 2018: (a) Phoenix Ltd.'s other comprehensive income (loss), and (b) comprehensive income. Net income for 2018 is $29,300; no amortization of gain or loss is necessary in 2018.

Intermediate Accounting: Reporting And Analysis
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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Gain or loss is necessary in 2018

Phoenix Ltd. had the following amounts related to its pension plan in 2018. Actuarial liability loss for 2018 Unexpected asset gain for 2018 $25,600 14,500 Accumulated other comprehensive income (G/L) (beginning 6,200 Cr balance) Determine for 2018: (a) Phoenix Ltd.'s other comprehensive income (loss), and (b) comprehensive income. Net income for 2018 is $29,300; no amortization of gain or loss is necessary in 2018.
Transcribed Image Text:Phoenix Ltd. had the following amounts related to its pension plan in 2018. Actuarial liability loss for 2018 Unexpected asset gain for 2018 $25,600 14,500 Accumulated other comprehensive income (G/L) (beginning 6,200 Cr balance) Determine for 2018: (a) Phoenix Ltd.'s other comprehensive income (loss), and (b) comprehensive income. Net income for 2018 is $29,300; no amortization of gain or loss is necessary in 2018.
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