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Social ScienceBoey Company reported net income of $25,000 in 2018. Ithad the following amounts related to its pension plan in2018: Actuarial liability gain $10,000; Unexpected assetloss $14,000; Accumulated other comprehensive income(G/L) (beginning balance), zero. Determine for 2018(a) Boey’s other comprehensive income, and (b) comprehensiveincome.
Boey Company reported net income of $25,000 in 2018. It
had the following amounts related to its pension plan in
2018: Actuarial liability gain $10,000; Unexpected asset
loss $14,000; Accumulated other comprehensive income
(G/L) (beginning balance), zero. Determine for 2018
(a) Boey’s other comprehensive income, and (b) comprehensive
income.
Expert Answer
Pension: A fixed sum of money, receivable in future or after the age of retirement, which the beneficiary has invested during the period of employment is termed as pension. This pension is mostly offered to government, public sector and some private sector employees.
(a)
Determine other compre...
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