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Please explain why the amortization of the actuarial loss on pension plan assets of 15,000 is added to AOCI?
A company reports 340,000 in AOCI in year 1. In year 2, the com. recorded the following:
Foreign currency translation loss: 30,000
Unrealized gain on AFS security: 10,000
Amortization of the actuarial loss on pension plan assets of : 15,000
Actual return on pension plan assets: 65,000
A Co.’s year 2 balance in AOCI will be:
a. 320,000
b. 325,000
c.335,000
d.400,000
What is actual return on pension plan assets? It is not included in OCI? Thanks so much.
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