Question
Wildhorse Inc. has beginning-of-the-year present values for its projected benefit obligation and market-related values for its pension plan assets. Projected Benefit Obligation Plan Assets Value
Wildhorse Inc. has beginning-of-the-year present values for its projected benefit obligation and market-related values for its pension plan assets.
Projected Benefit Obligation Plan Assets Value
2019 $870,000 $783,000
2020 1,087,500 957,000
2021 1,392,000 1,261,500
2022 1,827,000 1,740,000
The average remaining service life per employee in 2019 and 2020 is 8 years and in 2021 and 2022 is 11 years. The net gain or loss that occurred during each year is as follows: 2019, $143,550 gain; 2020, $34,800 gain; 2021, $26,100 loss; and 2022, $13,050 loss. (In working the solution, 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 4 years, setting up an appropriate schedule.
Year | Minimum Amortization of Loss | |
---|---|---|
2019 | $enter a dollar amount | |
2020 | $enter a dollar amount | |
2021 | $enter a dollar amount | |
2022 | $enter a dollar amount |
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