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Can you please help me with this problem, having trouble, I believe Im multiplying the wrong numbers XTRA Inc. has beginning-of-the-year present valuses for its
Can you please help me with this problem, having trouble, I believe Im multiplying the wrong numbers
XTRA Inc. has beginning-of-the-year present valuses for its projected benefit obligation and market-related values for its pension plan assets. Plan Assets Value 900,000 1,100,000 1,450,000 200,000 Projected Benefit Obliagion 1,000,000 1,250,000 1,600,000 2,100,000 2014 2015 2016 2017 The average remaing service-life per employee in 2014 and 2015 is 8 years and in 2016 and 2017 is 11 years. The net gain or loss that occurred during each year is as follows: 2014, $165,000 gain; 2015, $40,000 Gain; 2016, 30,000 loss; and 2017, 15,000 loss. Instructions Using the corridor approach, compute the amount of net gain or loss amortized and charged to pension expense in each of the 4 years, setting up an appropriate scheduleStep by Step Solution
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