"2-8-2010

"2-8-2010 - EXERCISE 20-9 (a) Note to financial...

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(a) Note to financial statements disclosing components of 2010 pension expense: Note X : Net pension expense for 2010 is composed of the following components of pension cost: Service cost. ......................................................................................... $ 94,000 Interest cost. ......................................................................................... 253,000 Expected return on plan assets. ............................................................ (175,680) Prior service cost amortization. ............................................................ 42,000 Pension expense. ........................................................................ $213,320 (b) Comprehensive income, 2010 Amortization of prior service cost. ...................................................... $ (42,000) Actuarial loss. ...................................................................................... 45,680 Other comprehensive loss. ................................................................... $ 3,680 Comprehensive income, 2010 Net income. .......................................................................................... $ 35,000 Other comprehensive loss. ................................................................... 3,680 Comprehensive income. ....................................................................... $ 31,320 (c) Accumulated OCI at December 31, 2010 is $255,680; this amount is comprised of the following: PSC Gain/Loss Balance Jan. 1, 2010* $252,000 Dr. $ 0 Amortization of PSC 42,000 Cr. Actuarial loss 45,680 Dr. Balance Dec. 31, 2010
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"2-8-2010 - EXERCISE 20-9 (a) Note to financial...

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