Boey Company reported net income of $25,000 in 2021. It had the following amounts related to its pension plan in 2021: actuarial liability gain $10,000, unexpected asset loss $14,000, accumulated other comprehensive income (G/L) (beginning balance), zero. Determine for 2021 (a) Boey's other comprehensive income, and (b) comprehensive income.

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A: SOLUTION- PENSION EXPENSE-  IT IS THE AMOUNT THAT A BUSINESS CHARGES TO EXPENSE IN RELATION TO ITS…

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A: Formula: Pension liability = Projected benefit obligation - Fair value of pension plan Assets.

Q: At January 1, 2019, Jolly Company had plan assets of P2, 800,000 and a projected benefit obligation…

A: Pension: It refers to a reserve made for employee retirement period by depositing the sum of money…

Q: On December 31, 2019, Johnson Company accumulated the following information for 2019 in regard to…

A: Answer 1:   Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the…

Q: The following information relates to the defined benefit pension plan for the Nicola Company for the…

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A:

Q: The actuary for the pension plan of Gustafson Inc. calculated the following net gains and losses.…

A:

Q: Ayayai Enterprises provides the following information relative to its defined benefit pension plan.…

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Q: Projected benefit obligation

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Q: Rid

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Employee Benefits

In an organization employees are the most important resource and most important asset. They can lead an organization to the sky or can be the reason for unsuccessful of business. Therefore, it is very much important that employees of an organization should be satisfied by the environment of the organization and most importantly with the salary, wages incentives, etc.