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-Prepare a schedule which reflects the amount of accumulated OCI (G/L) to be amortized as a component of pension expense for 2017 and 2018. -Determine
-Prepare a schedule which reflects the amount of accumulated OCI (G/L) to be amortized as a component of pension expense for 2017 and 2018.
-Determine the total amount of pension expense to be recognized by company in 2025 and 2026.
Blossom Company sponsors a defined benefit pension plan for its 600 employees. The company's actuary provided the following information about the plan. The average remaining service life per employee is 10.5 years. The service cost component of net periodic pension expense for employee services rendered amounted to $399,000 in 2025 and $470,000 in 2026 . The accumulated OCI (PSC) on January 1,2025 , was $1,386,000. No benefits have been paid. (a) Compute the amount of accumulated OCI (PSC) to be amortized as a component of net periodic pension expense for each of the years 2025 and 2026 Amount of accumulated OCl (PSC) to be amortized for the year 2025 Amount of accumulated OCI (PSC) to be amortized for the year 2026Step by Step Solution
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