Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

(5 points) At the end of 2020, Centus, Inc. reported a PBO of $7,020,000 and plan assets of $6,320,000. They also reported ending Accumulated OCI

image text in transcribed
(5 points) At the end of 2020, Centus, Inc. reported a PBO of $7,020,000 and plan assets of $6,320,000. They also reported ending Accumulated OCI - Actuarial Gains/Losses of $842,000. If the average remaining service life is 116 years, how much, if any, amortization would Centus, Inc. record in 2020 and 2021? (10 15) ($53,259) each year ($3,089,000) each year $0 in 2020 and $1,207 in 2021 O ($3,089,000) in 2020 and $0 in 2021

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella

1st edition

978-0133251579, 133251578, 013216230X, 978-0134102313, 134102312, 978-0132162302

More Books

Students also viewed these Accounting questions

Question

What is your greatest strength?

Answered: 1 week ago