Pension (3 points) The purpose of this assignment is to get the students to understand about to the Corridor Approach used to compute Accumulated OCI (G/L) for Pension and practice how to use =MAX/MIN =ABSOLUTE, and =IF excel functions The actuary fo the pension plan of Regina Company calculated the follwoing net gains and losses Incurre during the Gain) or Loss (660,000) $250,000 $1,000,000 $400,000 ear 2017 2018 2019 2020 Other information about the company's pension obligation and plan assets is as follows Projected Benefit As of January1 2017 2018 2019 2020 $4,000,000 4,500,000 4,900,000 5,250,000 Market-related Plan Assets Value $3,400,000 3,640,000 3,900,000 4,360,000 Additional information is as follows: 250 3,500 Labor force who are expected to receive benefits under the plan The total service-years for all participating employees The beginning balance of Accumulated OCI (G/L) on 1/1/17 The market-related value and the fair value of plan assets are the same for the 4-year period. employees Use the average remaining senvice life per employee as the basis for amotization Instructions 1. Compute the average remaining service life per umployee by filling up the shaded areas 2. Prepare a schedule which reflects the minimum amount of Accumulated OCI (G/L) amortized as a component of net periodic pension expense for each of the years 2017, 2018, 2019, and 2020. Apply the "corridor approach in determining the amount to be amortized each year. Use MAX/MIN, =ABSOLUTE, and =IF functions to get to the answers. Identify whether the Minimum Amortization amount for each year is gain or loss. Using the parenthesis around the amount if it is a gain. Round to the nearest dollar 1. Average remaining service life per employee 2. Compute Accumulated 0C1 (G/L). Fill in the shaded areas using the =MAXIMIN or =IF formulas when applicable Projected Minimum As of Benefit AccumulatedAmortization of Plan Assets Value $3,400,000 3,640,000 3,900,000 4,360,000 10% January 1 Obligation 2017 $4,000,000 2018 4,500,000 2019 4,900,000 2020 5,250,000 Gain/Loss Pension (3 points) The purpose of this assignment is to get the students to understand about to the Corridor Approach used to compute Accumulated OCI (G/L) for Pension and practice how to use =MAX/MIN =ABSOLUTE, and =IF excel functions The actuary fo the pension plan of Regina Company calculated the follwoing net gains and losses Incurre during the Gain) or Loss (660,000) $250,000 $1,000,000 $400,000 ear 2017 2018 2019 2020 Other information about the company's pension obligation and plan assets is as follows Projected Benefit As of January1 2017 2018 2019 2020 $4,000,000 4,500,000 4,900,000 5,250,000 Market-related Plan Assets Value $3,400,000 3,640,000 3,900,000 4,360,000 Additional information is as follows: 250 3,500 Labor force who are expected to receive benefits under the plan The total service-years for all participating employees The beginning balance of Accumulated OCI (G/L) on 1/1/17 The market-related value and the fair value of plan assets are the same for the 4-year period. employees Use the average remaining senvice life per employee as the basis for amotization Instructions 1. Compute the average remaining service life per umployee by filling up the shaded areas 2. Prepare a schedule which reflects the minimum amount of Accumulated OCI (G/L) amortized as a component of net periodic pension expense for each of the years 2017, 2018, 2019, and 2020. Apply the "corridor approach in determining the amount to be amortized each year. Use MAX/MIN, =ABSOLUTE, and =IF functions to get to the answers. Identify whether the Minimum Amortization amount for each year is gain or loss. Using the parenthesis around the amount if it is a gain. Round to the nearest dollar 1. Average remaining service life per employee 2. Compute Accumulated 0C1 (G/L). Fill in the shaded areas using the =MAXIMIN or =IF formulas when applicable Projected Minimum As of Benefit AccumulatedAmortization of Plan Assets Value $3,400,000 3,640,000 3,900,000 4,360,000 10% January 1 Obligation 2017 $4,000,000 2018 4,500,000 2019 4,900,000 2020 5,250,000 Gain/Loss
