Incurred during the Year (Gain) or Loss $300,000 480,000 (210,000) (290,000) 2017 2018 2019 2020 Other information about the company's pension obligation and plan assets is as follows. Projected Benefit Obligation Plan Assets As of January 1, (market-related asset value) $4,000,000 4,520,000 5,000,000 4,240,000 2017 $2,400,000 2018 2,200,000 2,600,000 3,040,000 2019 2020
(Amortization of Accumulated OCI (G/L), Corridor Approach, Pension Expense Computation) The actuary for the pension plan of Gustafson Inc. calculated the following net gains and losses.
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Gustafson Inc. has a stable labor force of 400 employees who are expected to receive benefits under the plan. The total serviceyears for all participating employees is 5,600. The beginning balance of accumulated OCI (G/L) is zero on January 1, 2017. The market-related value and the fair value of plan assets are the same for the 4-year period. Use the average remaining service life per employee as the basis for amortization.
Instructions
(Round to the nearest dollar.)
Prepare a schedule which reflects the minimum amount of accumulated OCI (G/L) amortized as a component of net periodic pension expense for each of the years 2017, 2018, 2019, and 2020. Apply the “corridor” approach in determining the amount to be amortized each year.
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