Hicks Cable Company has a defined benefit pension plan. Three alternative possibilities for pension- related data at January 1, 2013, are shown below: ($ in 000s) Case 1 Case 2 Case 3 $ (330) (8) Net loss (gain-AOCI, Jan. 1 2013 loss (gain) on plan assets 2013 loss (gain) on PBO Accumulated benefit obligation, Jan. 1 Projected benefit obligation, Jan. 1 Fair value of plan assets, Jan. 1 Average remaining service period of active employees (years) $ 320 (11) (23) (2,950) (3,310) 2,800 12 $ 260 2 (265) (1,450) (1,700) 1,550 10 16 (2,550) (2,670) 2,700 15 For Case 1, what is the corridor amount associated with determining the "Excess"? ($ in 000s) A. $331 B. $320 C. $270 D. $170
Hicks Cable Company has a defined benefit pension plan. Three alternative possibilities for pension- related data at January 1, 2013, are shown below: ($ in 000s) Case 1 Case 2 Case 3 $ (330) (8) Net loss (gain-AOCI, Jan. 1 2013 loss (gain) on plan assets 2013 loss (gain) on PBO Accumulated benefit obligation, Jan. 1 Projected benefit obligation, Jan. 1 Fair value of plan assets, Jan. 1 Average remaining service period of active employees (years) $ 320 (11) (23) (2,950) (3,310) 2,800 12 $ 260 2 (265) (1,450) (1,700) 1,550 10 16 (2,550) (2,670) 2,700 15 For Case 1, what is the corridor amount associated with determining the "Excess"? ($ in 000s) A. $331 B. $320 C. $270 D. $170
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Can you explain me step by step ho to find out the corridor...please
Transcribed Image Text:Hicks Cable Company has a defined benefit pension plan. Three alternative possibilities for pension-
related data at January 1, 2013, are shown below:
($ in 000s)
Case 1
Case 2
Case 3
$ 320
(11)
(23)
(2,950)
(3,310)
2,800
12
$ (330)
(8)
$ 260
2
Net loss (gain-AOCI, Jan. 1
2013 loss (gain) on plan assets
2013 loss (gain) on PBC
Accumulated benefit obligation, Jan. 1
Projected benefit obligation, Jan. 1
Fair value of plan assets, Jan. 1
Average remaining service period
of active employees (years)
(265)
(1,450)
(1,700)
1,550
10
16
(2,550)
(2,670)
2,700
15
For Case 1, what is the corridor amount associated with determining the "Excess"? ($ in 000s)
A. $331
B. $320
C. $270
D. $170
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