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7 Herring Wholesale Company has a defined benefit pension plan. On January 1, 2018, the following pension related data were available ($ in 000s 0.74
7 Herring Wholesale Company has a defined benefit pension plan. On January 1, 2018, the following pension related data were available ($ in 000s 0.74 points Net gain-AOCI Accumulated benefit obligation Projected benefit obligation Fair value of plan assets Average remaining service period of active employees (expected to remain constant for the next several years) $348 2,470 2,400 2,000 12years eBook The rate of return on plan assets during 2018 was 9%, although it was expected to be 10%. The actuary revised assumptions regarding the PBO at the end of the year, resulting in a $36,000 decrease in the estimate of that obligation. Print Required 1. Calculate any amortization of the net gain that should be included as a component of net pension expense for 2018 2. Assume the net pension expense for 2018, not including the amortization of the net gain component, is $338,000. What is pension expense for the year? 3. Determine the net loss-AOCI or net gain-AOCI as of January 1, 2019 References Amount amortized to 2018 pension expense Pension expense thousand thousand thousand -AOCI, end of 2018 (beg. of 2019)
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