Hunt Corporation had an accrued benefit obligation of $3.1 million and plan assets of $3.3 million at

Question:

Hunt had an accrued benefit obligation of $3.1 million and plan assets of $3.3 million at January 1, 2011. Hunt’s unrecognized net actuarial loss was $475,000 at that time. The average remaining service period of Hunt’s employees is 7.5 years. Calculate Hunt’s minimum amortization of the unrecognized actuarial loss for 2011.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...