On December 31,2016,the following pension-related data were available for CPS Industries' noncontributory,defined benefit pension plan:

Required:
1)Prepare the 2016 journal entry to record pension expense.
2)How will the statement of comprehensive income be affected by any 2016 gains and losses?

Question

On December 31,2016,the following pension-related data were available for CPS Industries' noncontributory,defined benefit pension plan:
  
Required:
1)Prepare the 2016 journal entry to record pension expense.
2)How will the statement of comprehensive income be affected by any 2016 gains and losses?

Quizplus · Accepted Answer

The Answer of On December 31,2016,the following pension-related data were available for CPS Industries' noncontributory,defined benefit pension plan:
  
Required:
1)Prepare the 2016 journal entry to record pension expense.
2)How will the statement of comprehensive income be affected by any 2016 gains and losses?

On December 31,2016,the Following Pension-Related Data Were Available for CPS