Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hicks Cable Company has a defined benefit pension plan. Three alternative possibilities for pension-related data at January 1, 2018, are shown below. Not loss (gain)-AOCI,

image text in transcribed
image text in transcribed
image text in transcribed
Hicks Cable Company has a defined benefit pension plan. Three alternative possibilities for pension-related data at January 1, 2018, are shown below. Not loss (gain)-AOCI, Jan. 1 2018 lose (gain) on plan assets 2018 loss (gain) on PRO Accumulated benefit obligation, Jan. 1 Projected benefit obligation, Jan. 1 Palt value of plan aset, Jan. 1 Average remaining service period of active enployees (years) 29 case 1 $ 333 (24) (26) (3,080) (3,440) 2,930 10 $ in 000) Case 2 Case 3 $ (371) 5 279 (21) 7 (285) (2,680) (1,580) (2,800) (1,830) 2,836 11 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 2018 2. For each independent case, determine the net loss-AOCI or net gain-AOCI as of January 1, 2019. Complete this question by entering your answers in the tabs below. 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 2018. (Input all amounts as positive values.) 15 in 000 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 2018. (Input all amounts as positive values.) ces Case 1 $ 333 15 in 000) Case 2 $ 371 Case 3 $ 279 Net gain or loss Loss: Corridor amount Excess, if any Service period (years) Amortization of gain or loss $ $ $ 333 10 371 11 33.7 279 8 $ 33.3 $ $ 34.9 Required 1 Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 For each independent case, determine the net loss AOCI or net gain-AOCI as of January 1, 2019. (Amounts to be deducted and losses amounts should be indicated by a minus sign.) (5 in 200's) Case 1 $ 333 (24) Case 2 $ (371) (21) Case 3 $ 279 7 January 1, 2018 net loss (gain) Loss (gain) on plan assets Amortization Loss (gain) on PBO January 1, 2019 net loss or (gain) - AOCI $ 309.0 $ (392.0) $ 286.0

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_2

Step: 3

blur-text-image_3

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

Effective Writing A For Accountants

Authors: Claire B. May, Gordon S. May

9th Edition

0132567245, 9780132567244

More Books

Students also viewed these Accounting questions

Question

=+What kind of question would you ask to encourage their response?

Answered: 1 week ago

Question

=+Does it keep the visitor reading?

Answered: 1 week ago