Carla Vista 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 $930,000 $837,000 2025 1,162,500 1,023,000 2026 1,488,000 1,348,500 2027 1,953,000 1,860,000 2024 The average remaining service life per employee in 2024 and 2025 is 8 years and in 2026 and 2027 is 11 years. The net gain or loss that occurred during each year is as follows: 2024, $153,450 gain; 2025, $37,200 gain: 2026, $27.900 loss; and 2027. $13,950 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. (Round answers to O decimal places, e.g. 22,500) Year 2024 2025 2026 Plan Assets Value 2027 Minimum Amortization of Loss $ $
Carla Vista 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 $930,000 $837,000 2025 1,162,500 1,023,000 2026 1,488,000 1,348,500 2027 1,953,000 1,860,000 2024 The average remaining service life per employee in 2024 and 2025 is 8 years and in 2026 and 2027 is 11 years. The net gain or loss that occurred during each year is as follows: 2024, $153,450 gain; 2025, $37,200 gain: 2026, $27.900 loss; and 2027. $13,950 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. (Round answers to O decimal places, e.g. 22,500) Year 2024 2025 2026 Plan Assets Value 2027 Minimum Amortization of Loss $ $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![Carla Vista Inc. has beginning-of-the-year present values for its projected benefit obligation and market-related values for its pension
plan assets.
Projected
Benefit
Plan
Assets
Obligation
Value
$930,000
$837,000
1,162,500 1,023,000
1,488,000
1,348,500
2027 1,953,000
1,860,000
2024
2025
2026
The average remaining service life per employee in 2024 and 2025 is 8 years and in 2026 and 2027 is 11 years. The net gain or loss
that occurred during each year is as follows: 2024, $153,450 gain; 2025, $37,200 gain: 2026, $27.900 loss; and 2027. $13,950 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. (Round answers to O decimal places, eg. 22,500)
Year Minimum Amortization of Loss
2024
2025
2026
2027
s
S
S
$](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5f07a2d3-1a4c-44eb-ab08-cc9c573acde5%2F9e1544b5-3b07-4f47-acf5-9ca73b91e3b4%2Fs7hnkpp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Carla Vista Inc. has beginning-of-the-year present values for its projected benefit obligation and market-related values for its pension
plan assets.
Projected
Benefit
Plan
Assets
Obligation
Value
$930,000
$837,000
1,162,500 1,023,000
1,488,000
1,348,500
2027 1,953,000
1,860,000
2024
2025
2026
The average remaining service life per employee in 2024 and 2025 is 8 years and in 2026 and 2027 is 11 years. The net gain or loss
that occurred during each year is as follows: 2024, $153,450 gain; 2025, $37,200 gain: 2026, $27.900 loss; and 2027. $13,950 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. (Round answers to O decimal places, eg. 22,500)
Year Minimum Amortization of Loss
2024
2025
2026
2027
s
S
S
$
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