Kenseth Corp. has the following beginning-of-the-year present values for its projected benefit obligation and market-related values for
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Kenseth Corp. has the following beginning-of-the-year present values for its projected benefit obligation and market-related values for its pension plan assets.
The average remaining service life per employee in 2011 and 2012 is 10 years and in 2013 and 2014 is 12 years. The net gain or loss that occurred during each year is as follows: 2011, $280,000 loss; 2012, $90,000 loss; 2013, $11,000 loss; and 2014, $25,000 gain. (In working the solution, the gains and losses must be aggregated to arrive at year-endbalances.)
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Projected Benefit Obligation Plan Assets Value $2,000,000 2,400,000 2,950,000 3,600,000 $1,900,000 2,500,000 2011 2012 2013 2,600,000 2014 3,000,000
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