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I just need help with requirment 2 amoritization on case 3. My first guess was 10 and it was also incorrect. Thank you! Hicks Cable
I just need help with requirment 2 amoritization on case 3. My first guess was 10 and it was also incorrect. Thank you!
Hicks Cable Company has a defined benefit pension plan. Three alternative possibilities for pension-related data at January 1,2024, are shown below: 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 2024 . 2. For each independent case, determine the net loss- AOCl or net gain- AOCl as of January 1, 2025. Complete this question by entering your answers in the tabs below. For each independent case, calculate any amortization of the net loss or gain that should be included as a component of pension expense for 2024. Note: Enter your answer in thousands (1.e., 10,000 should be entered as 10). \begin{tabular}{|c|c|c|c|c|c|c|} \hline & & & & sands) & & \\ \hline & Cas & & & & & \\ \hline January 1, 2024 net loss (gain) & $ & 328 & $ & (350) & & 278 \\ \hline Loss (gain) on plan assets & & (19) & & (16) & & 80 \\ \hline Amortization & & 00 & & 60 & & 16 \\ \hline Loss (gain) on PBO & & (31) & & 240 & & (290)> \\ \hline January 1,2025 net loss or (gain) - AOCl & $ & 278 & $ & (336) & $ & 12 \\ \hline \end{tabular} Step by Step Solution
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