Question: 1. ABC has the following beginning-of-the-year present values for its projected benefit obligation and market-related values for its pension plan assets. Year Projected Benefit
1. ABC has the following beginning-of-the-year present values for its projected benefit obligation and market-related values for its pension plan assets."
Year "Projected Benefit Obligation Plan Assets Value"
2019 $ 3,300,000 $ 2,500,000
2020. $ 3,700,000 $ 2,875,000
2021 $ 3,400,000 $ 3,100,000
2022 $ 3,500,000 $ 3,450,000
The average remaining service life per employee in 2019 and 2020 is 14 years and in 2021 and 2022 is 16 years. The net gain or loss that occurred during each year is as follows: 2019, $400,000 loss; 2020, $103,500 loss; 2021, $30,000 loss; and 2022, $50,000 gain. (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 four years, setting up an appropriate schedule." "
Year. Minimum Amortization of Loss. The correct Minimum Amortization of Loss answers
2019 $? $ 0
2020 $? $2,143 Show work note
2021 $? $10,085 Show work note
2022 $? $ 10,705 Show work note
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