Question: The following data are for the pension plan for the employees of Sandhill Company 1/1/20 12/31/20 12/31/21 $ 4600000 $ 4800000 $ 6400000 Accumulated benefit
The following data are for the pension plan for the employees of Sandhill Company 1/1/20 12/31/20 12/31/21 $ 4600000 $ 4800000 $ 6400000 Accumulated benefit obligation Projected benefit obligation Plan assets (atfair value) 5000000 5200000 7000000 6200000 4200000 5600000 AOCL-netloss 0 924000 960000 Settlement rate (for year) 9% 10% Expected rate of return (for year) 7% 7% Sandbill's contribution was $ 800000 in 2021 and benefits paid were $ 710000. Sandhill estimates that the average remaining service life is 10 years The corridor for 2021 was $560000. The amount of AOCI-net loss amortized in 2021 was O S 96000 O $42400 $ 92400 536400
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
