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Jordon Corporation obtained the following information from its actuary. All amounts given are as of January 1, 2021. Projected benefit obligation $1,500,000 Fair value of
- Jordon Corporation obtained the following information from its actuary. All amounts given are as of January 1, 2021.
- Projected benefit obligation $1,500,000
- Fair value of pension assets 1,400,000
- Market-related value of plan assets 1,550,000
- Accumulated other comprehensive income: unexpected loss 245,000
- Accumulated other comprehensive income: prior service cost 64,000
- Average remaining service life of employees 8 years
(A) What amount of the unexpected loss should be recognized as a part of pension expense for the year ended December 31, 2021?
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Accounting for Non-Accounting Students
Authors: John R. Dyson
8th Edition
273722972, 978-0273722977
