Question
The following data are for the pension plan for the employees of Lockett Company. 1/1/17 12/31/17 12/31/18 Accumulated benefit obligation $5,000,000 $5,200,000 $6,800,000 Projected benefit
The following data are for the pension plan for the employees of Lockett Company.
| 1/1/17 | 12/31/17 | 12/31/18 | |
| Accumulated benefit obligation | $5,000,000 | $5,200,000 | $6,800,000 |
| Projected benefit obligation | 5,400,000 | 5,600,000 | 7,400,000 |
| Plan assets (at fair value) | 4,600,000 | 6,000,000 | 6,600,000 |
| AOCL net loss | -0- | 960,000 | 1,000,000 |
| Settlement rate (for year) | 10% | 9% | |
| Expected rate of return (for year) | 8% | 7% |
Locketts contribution was $840,000 in 2018 and benefits paid were $750,000. Lockett estimates that the average remaining service life is 15 years. The corridor for 2018 was $600,000. The amount of AOCI-net loss amortized in 2018 was
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The Economics Of Audit Quality Private Incentives And The Regulation Of Audit And Non Audit Services
Authors: Benito Arrunada
1999th Edition
0792384733, 978-0792384731
