Reference no: EM133162740
Question - The BLUE Flower Company showed in its memorandum records the following balances:
Fair value of pension plan assets, Jan. 1, 2022 4,600,000
Fair value of pension assets, Dec. 31, 2022 4,950,000
Contributions to the plan in 2022 500,000
Benefits paid to retiree in 2022 700,000
Interest cost used by the entity 10%
Required -
1. Determine the actual return on pension plan assets.
2. Determine the amount of actuarial gain or loss that will be taken to other comprehensive income.
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