Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

9. The following data are for the pension plan for the employees of Oriole Company. 1/1/20 12/31/20 12/31/21 Accumulated benefit obligation $ 4100000 $ 4300000

9.

The following data are for the pension plan for the employees of Oriole Company.

1/1/20 12/31/20 12/31/21
Accumulated benefit obligation $ 4100000 $ 4300000 $ 5900000
Projected benefit obligation 4500000 4700000 6500000
Plan assets (at fair value) 3700000 5100000 5700000
AOCL net loss 0 879000 910000
Settlement rate (for year) 11% 10%
Expected rate of return (for year) 9% 6%

Orioles contribution was $750000 in 2021 and benefits paid were $660000. Oriole estimates that the average remaining service life is 10 years. The corridor for 2021 was $510000. The amount of AOCI-net loss amortized in 2021 was

$91000.

$42900.

$36900.

$87900.

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

Step: 3

blur-text-image

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

Occupational Fraud And Abuse

Authors: Joseph T. Wells

1st Edition

1889277088, 978-1889277080

More Books

Students also viewed these Accounting questions