The following information relates to the pension plan for the employees of Neal Co.: Neal estimates that
Question:
Neal estimates that the average remaining service life is 16 years. Neal€™s contribution was $ 315,000 in year 5 and benefits paid were $ 235,000. T he amount of unrecognized net gain amortized in year 5 is:
a. $ 12,750
b. $ 12,500
c. $ 9,688
d. $ 8,314
Transcribed Image Text:
Jan. 1, year $4,400,000 4,650,000 4,250,000 4.100,000 Dec. 31, year 4 Dec. 31, year 5 Accumulated benefit obligation Projected benefit obligation Fair value of plan assets Market-related value of assets Unrecognized net igainl or loss Settlement rate (for year) Expected rate of return (for year) $4,600,000 4,980,000 5,200,000 5,160,000 (720,000 $8,000,000 6,670,000 5,740,000 5,650,000 800,000) 11% 11% 8% 796
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Related Book For
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
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