Crane Company sponsors a defined benefit pension plan. The corporation's actuary provides the following information about the plan. Vested benefit obligation Accumulated benefit obligation Projected benefit obligation Plan assets (fair value) Settlement rate and expected rate of return Pension asset/liability Service cost for the year 2025 Contributions (funding in 2025) $410 650 January 1, 2025 $1,400 2,080 2,420 1,610 810 December 31, 2025 $2,080 2,970 3,550 2,520 10% ?

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Crane Company sponsors a defined benefit pension plan. The corporation's actuary provides the following information about the plan.
Vested benefit obligation
Accumulated benefit obligation
Projected benefit obligation
Plan assets (fair value)
Settlement rate and expected rate of return
Pension asset/liability
Service cost for the year 2025
Contributions (funding in 2025)
Benefits paid in 2025
$410
650
190
January 1,
2025
$1,400
2,080
2,420
1,610
810
December 31,
2025
$2,080
2,970
3,550
2,520
10%
?
Transcribed Image Text:Crane Company sponsors a defined benefit pension plan. The corporation's actuary provides the following information about the plan. Vested benefit obligation Accumulated benefit obligation Projected benefit obligation Plan assets (fair value) Settlement rate and expected rate of return Pension asset/liability Service cost for the year 2025 Contributions (funding in 2025) Benefits paid in 2025 $410 650 190 January 1, 2025 $1,400 2,080 2,420 1,610 810 December 31, 2025 $2,080 2,970 3,550 2,520 10% ?
(a)
Your answer is correct.
Compute the actual return on the plan assets in 2025.
Actual return on the plan assets
eTextbook and Media
tA
450
Attempts: 1 of 3 used
Compute the amount of the other comprehensive income (G/L) as of December 31, 2025. (Assume the January 1, 2025, balance
was zero.) (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
Net pension liability gains and losses $
Assistance Used
881
Transcribed Image Text:(a) Your answer is correct. Compute the actual return on the plan assets in 2025. Actual return on the plan assets eTextbook and Media tA 450 Attempts: 1 of 3 used Compute the amount of the other comprehensive income (G/L) as of December 31, 2025. (Assume the January 1, 2025, balance was zero.) (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Net pension liability gains and losses $ Assistance Used 881
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