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. $170
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter19: Accounting For Post Retirement Benefits
Section: Chapter Questions
Problem 4E
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Question
Can you explain me step by step ho to find out the corridor...please
![Hicks Cable Company has a defined benefit pension plan. Three alternative possibilities for pension-
related data at January 1, 2013, are shown below:
($ 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. $170](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8f61e626-7d33-482f-bf18-423884fdaa73%2Ffb55d4dc-784c-4f9e-af2d-93897b259457%2Fsr41ohu_processed.png&w=3840&q=75)
Transcribed Image Text:Hicks Cable Company has a defined benefit pension plan. Three alternative possibilities for pension-
related data at January 1, 2013, are shown below:
($ 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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