FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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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%
?
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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