Solved: Comprehensive income net income for 2010 is 26000 no, Accounting Basics

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Comprehensive income net income for 2010 is 26000 no

Norton Co. had the following amounts related to its pension plan in 2010.

Actuarial liability loss for 2010 $28,000

Unexpected asset gain for 2010 18,000

Accumulated other comprehensive income (G/L) (beginning balance) 7,000 Cr

Determine for 2010:

(a) Norton's other comprehensive income (loss), and

(b) comprehensive income. Net income for 2010 is $26,000; no amortization of gain or loss is necessary in 2010.

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Accounting Basics: Comprehensive income net income for 2010 is 26000 no

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Accounting Basics: Comprehensive income net income for 2010 is 26000 no

Reference No:- TGS01487358

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