Question

A

B

Blossom Co. had the following amounts related to its pension plan in 2017. Actuarial liability loss for 2017 Unexpected asset gain for 2017 Accumulated other comprehensive income (G/L) (beginning balance) $29,000 19,700 6,800 Cr. Determine for 2017: (a) Blossom's other comprehensive income (loss), and (b) comprehensive income. Net income for 2017 is $25,500; no amortization of gain or loss is necessary in 2017. (Enter loss using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) (a) Other comprehensive income (loss). (b) Comprehensive income (loss)

Answer 1

(A)	Blossom Company
a)	Other Comprehensive loss for 2017
	Actuarial liability loss	$                               -29,000.00
	Unexpected assets gain	$                                 19,700.00
	Other Comprehensive Income(loss)	$                                 -9,300.00
b)	Comprehensive Income for 2017
	Net Income	$                                 25,500.00
	Other Comprehensive Income(loss)	$                                 -9,300.00
	Comprehensive Income (loss)	$                                 16,200.00
(B)	Flint Corp.
		(A)	(B)	(A)-(B)
		Pension Assets(Fair Value)	Projected benefit obligation	Pension Assets/Liability
	Plan X	$                             6,58,000.00	$                               4,95,000.00	$                       1,63,000.00	Assets
	Plan Y	$                             9,65,000.00	$                               7,81,000.00	$                       1,84,000.00	Assets
	Plan Z	$                             5,27,000.00	$                               6,34,000.00	$                     -1,07,000.00	Liability
	Pension Assets=($163000+$184000)	$                             3,47,000.00
	Pension Liability	$                             1,07,000.00