Question 16 20 On December 31, Year 1 and Year 2, Smith Company had the following defined benefit pension plan balances Fair value of plan assets Projected Benefit Obligation Unrecognized prior service costs Unrecognized net gain Unrecognized net transition obligation 12 31 Y112 3 Y2 $1,900,000 $2,165,000 $2,125,000 $2,352,500 S 175,000 157,500 S 250,500 284,700 35,000 0 At December 31, Year 1, the employees participating in the plan had an average remaining service period of 10 years During Year 2, the company completed the amortization of its unrecognized net transition obligation, made a contribution of $275,000, and paid benefits of $200,000 The Year 2 service cost was $300,000 The company uses an expected return on plan assets of 8 when calculating net periodic pension cost, but had an actual return on Plan A's assets of 10 in Year 2, The company's discount rate is 6 19 What is the prior cost amortization amount for year 2 a $17,500 b $ $15,750 c $0 d $21,875 20 What is the amortization adjustments for the unrecognized net gain for year 2 a $25,050 b $28,470 c $2,550 d $3,800 21 What is the net transition obligation amortization for year 2' a $0 b $35,000 c $17,500 d $ 3,500 Questions 19 to 21 needed Question 16 20 On December 31, Year 1 and Year 2, Smith Company had the following defined benefit pension plan balances 12 31 1 12 31 Y2 Fair value of plan assets $1,900,000 $2,165,000 Projected Benefit Obligation $2,125,000 $2,352,500 Unrecognized prior service costs $ 175,000 $ 157,500 Unrecognized net gain $ 250,500 $ 284,700 Unrecognized net transition obligation $ 35,000 $ 0 At December 31, Year 1, the employees participating in the plan had an average remaining service period of 10 years During Year 2, the company completed the amortization of its unrecognized net transition obligation, made a contribution of $275,000, and paid benefits of $200,000 The Year 2 service cost was $300,000 The company uses an expected return on plan assets of 8 when calculating net periodic pension cost, but had an actual return on Plan A's assets of 10 in Year 2 The company's discount rate is 6 19 What is the prior cost amortization amount for year 27 a $17 500 b $15 750 c50 d $21,875 20 What is the amortization adjustment for the unrecognized net gain for year 2 $25,050 b $28,470 c $2 550 d $3,800 21 What is the net transition obligation amortization for year 2 a 0 b$35,000 c $17,500 d $3,500 in plan had a PBO of $265,000 on January 1, 2016 fine this

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Question 16-20 On December 31, Year 1 and Year 2, Smith Company had the following defined benefit pension plan balances Fair value of plan assets

"Question 16-20 On December 31, Year 1 and Year 2, Smith Company had the following defined benefit pension plan balances Fair value of plan assets Projected Benefit Obligation Unrecognized prior service costs Unrecognized net gain Unrecognized net transition obligation 12/31/Y112/3/Y2 $1,900,000 $2,165,000 $2,125,000 $2,352,500 S 175,000 157,500 S 250,500 284,700 35,000 0 At December 31, Year 1, the employees participating in the plan had an average remaining service period of 10 years. During Year 2, the company completed the amortization of its unrecognized net transition obligation, made a contribution of $275,000, and paid benefits of $200,000. The Year 2 service cost was $300,000. The company uses an expected return on plan assets of 8% when calculating net periodic pension cost, but had an actual return on Plan A's assets of 10% in Year 2, The company's discount rate is 6%.

19. What is the prior cost amortization amount for year 2? a. $17,500 b. $ $15,750 c. $0 d. $21,875

20. What is the amortization adjustments for the unrecognized net gain for year 2? a. $25,050 b. $28,470 c. $2,550 d. $3,800

21. What is the net transition obligation amortization for year 2' a. $0 b. $35,000 c. $17,500 d. $.3,500"

Questions 19 to 21 needed

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Question 16-20 On December 31, Year 1 and Year 2, Smith Company had the following defined benefit pension plan balances 12/31/1 12/31/Y2 Fair value of plan assets $1,900,000 $2,165,000 Projected Benefit Obligation $2,125,000 $2,352,500 Unrecognized prior service costs $ 175,000 $ 157,500 Unrecognized net gain $ 250,500 $ 284,700 Unrecognized net transition obligation $ 35,000 $ 0 At December 31, Year 1, the employees participating in the plan had an average remaining service period of 10 years. During Year 2, the company completed the amortization of its unrecognized net transition obligation, made a contribution of $275,000, and paid benefits of $200,000. The Year 2 service cost was $300,000. The company uses an expected return on plan assets of 8% when calculating net periodic pension cost, but had an actual return on Plan A's assets of 10% in Year 2. The company's discount rate is 6%. 19. What is the prior cost amortization amount for year 27 a $17.500 b $15.750 c50 d $21,875 20. What is the amortization adjustment for the unrecognized net gain for year 2? # $25,050 b $28,470 c. $2.550 d $3,800 21. What is the net transition obligation amortization for year 2? a 0 b$35,000 c. $17,500 d $3,500 in plan had a PBO of $265,000 on January 1, 2016. fine this