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Complete the table below Bonny Corp. has a defined benefit pension plan for its employees who have an average remaining service life of 10 years.
Complete the table below
Bonny Corp. has a defined benefit pension plan for its employees who have an average remaining service life of 10 years. The following information is available for 201 and 202 related to the pension plan: Bonny Corp. had no beginning balance in its AOCl net actuarial (gain) loss on January 1, 20X1. The actuarial (gains) losses on PBO arose due to changes in assumptions made by the actuaries regarding salary increases (20X1) and mortality estimates (20X2). Required: 1. Compute Bonny's PBO at December 31, 20X1, and December 31, 202. 2. Compute the fair value of plan assets at December 31, 20X1, and December 31, 202. 3. Compute the funded status of the plan at December 31, 20X1, and December 31, 202. 4. Compute the year-end balance in AOCl net actuarial loss (gain) for Bonny Corp. for 20X1 and 202. 5. Compute OCl for the years ended December 31, 20X1, and December 31, 202. (For parts 3,4 , and 5 , liabilities and losses should be indicated by a minus sign.)Step by Step Solution
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