Question: Sage Inc. has beginning-of-the-year present values for its projected benefit obligation and market-related values for its pension plan assets. Projected Benefit Obligation Plan Assets Value

Sage Inc. has beginning-of-the-year present values for its projected benefit obligation and market-related values for its pension plan assets.

Projected Benefit Obligation

Plan Assets Value

2019

$940,000 $846,000

2020

1,175,000 1,034,000

2021

1,504,000 1,363,000

2022

1,974,000 1,880,000

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, $155,100 gain; 2020, $37,600 gain; 2021, $28,200 loss; and 2022, $14,100 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.

Year

Minimum Amortization of Loss

2019

$enter a dollar amount

2020

$enter a dollar amount

2021

$enter a dollar amount

2022

$enter a dollar amount

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