Kenseth Corp. has the following beginningof- the-year present values for its projected benefit obligation and market-related values for its pension plan assets.

The average remaining service life per employee in 2024 and 2025 is 10 years; in 2026 and 2027, it is 12 years. The net gain or loss that occurred during each year is as follows: 2024, $280,000 loss; 2025, $90,000 loss; 2026, $11,000 loss; and 2027, $25,000 gain. (In working the solution, the gains and losses must be aggregated to arrive at year-end balances.)

Instructions

Using the corridor approach, compute the amount of net gain or loss amortized and charged to pension expense in each of the four years, setting up an appropriate schedule.

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2024 2025 2026 2027 Projected Benefit Obligation $2,000,000 2,400,000 2,950,000 3,600,000 Plan Assets Value $1,900,000 2,500,000 2,600,000 3,000,000