Crane Corp. has the following beginning-of-the-year present values for its projected benefit obligation and market-related values for its pension plan assets. Projected Benefit Obligation 2024 $2,480,000 $2,356,000 2025 2026 2027 4,464,000 2,976,000 2024 3,658,000 2025 The average remaining service life per employee in 2024 and 2025 is 10 years; and in 2026 and 2027, is 12 years. The net gain or loss that occurred during each year is as follows: 2024, $347,200 loss; 2025, $111,600 loss; 2026, $13,640 loss; and 2027, $31,000 gain. (In working the solution, the gains and losses must be aggregated to arrive at year-end balances.) 2026 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. (Do not leave any answer field blank. Enter O for amounts.) 2027 Plan Assets Value Year Minimum Amortization of Loss 3,100,000 3,224,000 3,720,000 $

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Employee Benefits

In an organization employees are the most important resource and most important asset. They can lead an organization to the sky or can be the reason for unsuccessful of business. Therefore, it is very much important that employees of an organization should be satisfied by the environment of the organization and most importantly with the salary, wages incentives, etc.