On December 31, 2013, the following pension-related data were available for CPS Industries' noncontributory, defined benefit pension plan: Required:
1) Prepare the 2013 journal entry to record pension expense.
2) How will the statement of comprehensive income be affected by any 2013 gains and losses?

Question

On December 31, 2013, the following pension-related data were available for CPS Industries' noncontributory, defined benefit pension plan:  Required:
1) Prepare the 2013 journal entry to record pension expense.
2) How will the statement of comprehensive income be affected by any 2013 gains and losses?

Quizplus · Accepted Answer

The Answer of On December 31, 2013, the following pension-related data were available for CPS Industries' noncontributory, defined benefit pension plan:  Required:
1) Prepare the 2013 journal entry to record pension expense.
2) How will the statement of comprehensive income be affected by any 2013 gains and losses?

On December 31, 2013, the Following Pension-Related Data Were Available