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Please help with all parts, thanks! Hicks Cable Company has a defined benefit pension plan. Three alternative possibilities for pension-related data at January 1, 2021.
Please help with all parts, thanks!
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) (5 in thousands) Case 1 Case 2 Case 3 $ 337 $ (407) $ 297 (28) (25) 5 (40) 33 (301) (3,120) (2,720) (1,620) (3,480) (2,840) (1,870) 2,970 2,870 1,720 12 15 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 galin-AOCI as of January 1, 2022 Complete this question by entering your answers in the tabs below. Required: 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.) (s in thousands) Case 1 Case 2 $ 337 $ 407 Case 3 $ 297 Net gain or loss Less: Corridor amount Excess, if any Service period (years) Amortization of gain or loss R1 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, 2022. (Amounts to be deducted and loss amounts should be indicated by a minus sign.) (s in thousands) Case 1 Case 2 Case 3 January 1, 2021 net loss (gain) $ 337 $ (407) $ 297 Loss (gain) on plan assets Amortization Loss (gain) on PBO January 1, 2022 net loss or (gain) - AOCI Step by Step Solution
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