Pharoah Inc. has beginning-of-the-year present value for its projected benefit obligation and market-related values for its...

Transcribed Image Text:

Pharoah Inc. has beginning-of-the-year present value for its projected benefit obligation and market-related values for its pension plan assets. Projected Benefit Obligation Plan Assets Value 2019 $870,000 $783,000 2020 1.087.500 957,000 2021 1.392,000 1.261.500 2022 -1,827,000 1.740.000 The average remaining service life per employee in 2019 and 2020 is 8 years and in 2021 and 2022 is 11 years. The net gain or loss that occurred during each year is as follows: 2019. $143.550 gain: 2020.534,800 gair: 2021. $26.100 loss: and 2022. $13,050 loss. (In working the solution, the gains and losses must be aggregated to arrive at year-end balances Using the corridor approach.compute the amount of net gain or loss amortized and charged to pension expense in each of the 4 years, setting up an appropriate schedule. MOMILES. Using the corridor approach, compute the amount of bet gain or loss amortized and charged to pension expense in each of the 4 years setting up an appropriate schedule. Year Minimum Amortization of Loss 2019 2020 2021 2022 $ Pharoah Inc. has beginning-of-the-year present value for its projected benefit obligation and market-related values for its pension plan assets. Projected Benefit Obligation Plan Assets Value 2019 $870,000 $783,000 2020 1.087.500 957,000 2021 1.392,000 1.261.500 2022 -1,827,000 1.740.000 The average remaining service life per employee in 2019 and 2020 is 8 years and in 2021 and 2022 is 11 years. The net gain or loss that occurred during each year is as follows: 2019. $143.550 gain: 2020.534,800 gair: 2021. $26.100 loss: and 2022. $13,050 loss. (In working the solution, the gains and losses must be aggregated to arrive at year-end balances Using the corridor approach.compute the amount of net gain or loss amortized and charged to pension expense in each of the 4 years, setting up an appropriate schedule. MOMILES. Using the corridor approach, compute the amount of bet gain or loss amortized and charged to pension expense in each of the 4 years setting up an appropriate schedule. Year Minimum Amortization of Loss 2019 2020 2021 2022 $

Answer rating: 100% (QA)

ANSWER Solution Answer fagenoo1 T004 greater Phayoak i... View the full answer