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employees. The company s actuary provided the following Wilanorse company sponsors a denned benent pension plan information about the plan. January 1, December 31, 2020
employees. The company s actuary provided the following Wilanorse company sponsors a denned benent pension plan information about the plan. January 1, December 31, 2020 2020 2021 Projected benefit obligation $2,810,000 $3,657,900 $4,202,532 Accumulated benefit obligation 1,890,000 2,440,000 2,873,000 Plan assets (fair value and market-related asset value) 1,690,000 2,894,000 3,796,000 Accumulated net (gain) or loss (for purposes of the corridor calculation) 0 196,000 (24,000) Discount rate (current settlement rate) 9 % 8 % Actual and expected asset return rate 10 % 10 % Contributions 1,035,000 612,600 The average remaining service life per employee is 10.5 years. The service cost component of net periodic pension expense for employee services rendered amounted to $399,000 in 2020 and $472,000 in 2021. The accumulated OCI (PSC) on January 1, 2020, was $1,396,500. No benefits have been paid. Compute the amount of accumulated OCI (PSC) to be amortized as a component of net periodic pension expense for each of the years 2020 and 2021. Amount of accumulated OCI (PSC) to be amortized for the year 2020 $ Amount of accumulated OCI (PSC) to be amortized for the year 2021 $ Prepare a schedule which reflects the amount of accumulated OCI (G/L) to be amortized as a component of pension expense for 2020 and 2021. Projected Benefit Obligation Plan Assets 10% Corridor Accumulated OCI (G/L) Year 2810000 1710000 2020 281000 3662900 2916000 2021 366290 197 e Textbook and Media X Your answer is incorrect. Determine the total amount of pension expense to be recognized by Wildhorse Company in 2020 and 2021. Pension expense for 2020 $ Pension expense for 2021 ta $
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