Question
The following information relates to the pension plan for the employees of Oriole Co.: 1/1/20 12/31/20 12/31/21 Accum. benefit obligation $ 9540000 $ 9960000 $
The following information relates to the pension plan for the employees of Oriole Co.:
| 1/1/20 | 12/31/20 | 12/31/21 | ||||||||||
| Accum. benefit obligation | $ | 9540000 | $ | 9960000 | $ | 12900000 | ||||||
| Projected benefit obligation | 10065000 | 10758000 | 14307000 | |||||||||
| Fair value of plan assets | 9225000 | 11220000 | 12354000 | |||||||||
| AOCI net (gain) or loss | -0- | ( 1542000 | ) | ( 1710000 | ) | |||||||
| Settlement rate (for year) | 10% | 10% | ||||||||||
| Expected rate of return (for year) | 7% | 6% | ||||||||||
Oriole estimates that the average remaining service life is 16 years. Oriole's contribution was $ 1353000 in 2021 and benefits paid were $ 1017000. The corridor for 2021 is
a. $ 858420.
b. $ 673200.
c. $ 1430700.
d. $ 1122000.
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Research On Professional Responsibility And Ethics In Accounting Volume 24
Authors: Charles Richard Baker
1st Edition
180071758X, 9781800717589
