Information for the Wildhorse Company pension plan in 2026 is as follows: ● Service cost is $87000 Settlement rate is 10%, expected rate of return is 10% ● Actual return on plan assets is $370000● There are no prior service costs to amortize ● Annual funding contribution is $112000 Benefits paid to retirees during the year are $92000 Average service life of all covered employees is 15 years. The projected benefit obligation on January 1, 2026 was $1320000 The value of plan assets on January 1, 2026 was $1120000. The balance in Other Comprehensive Income - Gains/Losses is a $355000 credit on December 31, 2025. What is the unexpected gain or loss for 2026? Select answer from the options below $258000 unexpected gain $258000 unexpected loss $40000 unexpected gain $40000 unexpected loss

Information for the Wildhorse Company pension plan in 2026 is as follows: ● Service cost is $87000 Settlement rate is 10%, expected rate of return is 10% ● Actual return on plan assets is $370000● There are no prior service costs to amortize ● Annual funding contribution is $112000 Benefits paid to retirees during the year are $92000 Average service life of all covered employees is 15 years. The projected benefit obligation on January 1, 2026 was $1320000 The value of plan assets on January 1, 2026 was $1120000. The balance in Other Comprehensive Income - Gains/Losses is a $355000 credit on December 31, 2025. What is the unexpected gain or loss for 2026? Select answer from the options below $258000 unexpected gain $258000 unexpected loss $40000 unexpected gain $40000 unexpected loss

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Information for the Crane Company pension plan in 2026 is as follows: Service cost is $67000 Settlement rate is 10% expected rate of return is 10% Actual return on plan assets is $170000 There are no prior service costs to amortize Annual funding contribution is $92000 Benefits paid to retirees during the year are 574000 Average service life of all covered employees is 15 years The projected benefit obligation on January 1, 2026 was $1120000 The value of plan assets on January 1 2026 was $920000 The balance in Other Comprehensive Income-Gains/Losses is a $155000 credit on December 31,2025. What is the amount of amortization of the other comprehensive income gain or loss in 20267 $9200 $2867 C$112000 $3800
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