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Hicks Cable Company has a defined benefit pension plan. Three alternative possibilities for pension-related data at January 1, 2021, are shown below: Net loss (gain)-AOCI,
Hicks Cable Company has a defined benefit pension plan. Three alternative possibilities for pension-related data at January 1, 2021, are shown below: Net loss (gain)-AOCI, Jan. 1 2021 loss (gain) on plan assets 2021 loss (gain) on PBO Accumulated benefit obligation, Jan. 1 Projected benefit obligation, Jan. 1 Fair value of plan assets, Jan. 1 Average remaining service period of active employees (years) $ 320 $ (330) ($ in thousands) Case 1 Case 2 Case 3 $ 260 (11) (8) 2 (23) 16 (2,950) (2,550) (3,310) (2,670) (265) (1,450) (1,700) 2,800 12 2,700 15 1,550 10 Required: 1. For each independent case, calculate any amortization of the net loss or gain that should be included as a component of pension expense for 2021. 2. For each independent case, determine the net loss-AOCI or net gain-AOCI as of January 1, 2022.. Required 1 Required 2 For each independent case, calculate any amortization of the net loss or gain that should be included as a component of pension expense for 2021. (Input all amounts as positive values.) Net gain or loss Less: Corridor amount Excess, if any Service period (years) Amortization of gain or loss ($ in thousands) Case 1 Case 2 Case 3 $ 320 $ 330 $ 260 Required 1 Required 2 For each independent case, determine the net loss-AOCI or net gain-AOCI as of January 1, 2022. (Amounts to be deducted and loss amounts should be indicated by a minus sign.) January 1, 2021 net loss or (gain) Loss (gain) on plan assets Amortization Loss (gain) on PBO January 1, 2022 net loss or (gain) - AOCI ($ in thousands) Case 1 Case 2 Case 3 $ 320 $ (330) $ 260
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