At the Beginning of the Current Year,a Pension Has Assets

question 67

Essay

At the beginning of the current year,a pension has assets of $58,600,000 and accrued benefit obligation of $69,500,000.During the year,the sponsor recorded $3,100,000 in pension expense and contributed $4,000,000 to the pension plan.At the end of the year,the plan assets had fair value of $55,400,000 while the plan obligations had a present value of $64,000,000.
Required:
Compute the amount of other comprehensive income relating to the pension plan for the year.

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Definitions:

Wilhelm Wundt

Recognized as the father of experimental psychology, he established the first psychology laboratory in Leipzig, Germany, in 1879, marking the beginning of psychology as a separate field of study.

Sigmund Freud

Originating from Austria, this neurologist created psychoanalysis, a therapeutic approach to address mental illness via conversation with a psychoanalyst.

Psychology

The scientific study of the mind and behavior, exploring various aspects from biological foundations to social influences.

Study of Consciousness

The examination of the nature and properties of the state of being aware of and able to think about oneself and the environment.