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Wildhirse Corp. has the following begining of the year present valies for its projected benefit obligation and market related values for its pension plan assets.
Wildhirse Corp. has the following begining of the year present valies for its projected benefit obligation and market related values for its pension plan assets. 2024 projected benefit obligation 2,440,000, plan assets value 2,318,000 2025 projected benefit obligation 2,928,000 plan assets value 3,050,000 2026 projected benefit obligation 3,599,000 plan assets vakue 3,172,000 2027 projected benefit obligation 4,392,000 plan assets value 3,660,000. The average remaining service life per employee in 2024and 2025 is 10 years; and in 2026 and 2027 is 12 years. the net gain or loss that occurre during each year is as folllows: 2025,$341,600 loss, 2025 109,800 loss,:2026 $13,420 loss: and 2027,$30,500 gain. ( in working the solutiin, the gains and losses must be aggregated to arrive at year-end balances). using the corridor approach, compute the amount of net gain or loss amortized and charged to pension expense in each of the four years, setting up an appropriate schedule for year 2024,2025,2026,and 2027 minimun amortization of loss.
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