Information for the Carla Vista Company pension plan in 2026 is as follows: 1. Service cost is
Question:
Information for the Carla Vista Company pension plan in 2026 is as follows:
1. Service cost is $74000
2. Settlement rate is 10%, expected rate of return is 10%
3. Actual return on plan assets is $240000
4. There are no prior service costs to amortize
5. Annual funding contribution is $99000
6. Benefits paid to retirees during the year are $88000
7. Average service life of all covered employees is 15 years
8. The projected benefit obligation on January 1, 2026 was $1190000
9. The value plan assets on January 1, 2026 was $99000
10. The balance in other comprehensive income – gains/losses is a $225000 credit on December 31, 2025
What is the amount of amortization of the other comprehensive income gain or loss in 2026?
College Accounting A Practical Approach
ISBN: 978-0132564441
11th Canadian Edition
Authors: Jeffrey Slater, Brian Zwicker