S Hicks Cable Company has a defined benefit pension plan. Three alternative possibilities for pension-related data at January 1, are shown below: Net loss (gain)-AOCI, January 1 2024 loss (gain) on plan assets 2024 loss (gain) on PBO Accumulated benefit obligation, January 1 Projected benefit obligation, January 1 Fair value of plan assets, January 1 Average remaining service period of active employees (years) Required: Case 1 $ 335 (26) ($ in thousands) Case 2 $ (397) (23) Case 3. 305 5 (38) 31 (3,100) (2,700) (3,460) (2,820) 2,950 2,850 (310) (1,600) (1,850) 1,700 12 14 10 1. For each independent case, calculate any amortization of the net loss or gain that should be included as a component of pens expense for 2024, 2. For each independent case, determine the net loss-AOCI or net gain-AOCI as of January 1, 2025. Complete this question by entering your answers in the tabs below. Required 1 Required 2 For each independent case, calculate any amortization of the net loss or gain that should be included as a component of pension expense for 2024. Note: Enter your answer in thousands (i.e., 10,000 should be entered as 10). Not anin or lane ($ in thousands) Case 1 Case 2 225 307 Case 3 305
S Hicks Cable Company has a defined benefit pension plan. Three alternative possibilities for pension-related data at January 1, are shown below: Net loss (gain)-AOCI, January 1 2024 loss (gain) on plan assets 2024 loss (gain) on PBO Accumulated benefit obligation, January 1 Projected benefit obligation, January 1 Fair value of plan assets, January 1 Average remaining service period of active employees (years) Required: Case 1 $ 335 (26) ($ in thousands) Case 2 $ (397) (23) Case 3. 305 5 (38) 31 (3,100) (2,700) (3,460) (2,820) 2,950 2,850 (310) (1,600) (1,850) 1,700 12 14 10 1. For each independent case, calculate any amortization of the net loss or gain that should be included as a component of pens expense for 2024, 2. For each independent case, determine the net loss-AOCI or net gain-AOCI as of January 1, 2025. Complete this question by entering your answers in the tabs below. Required 1 Required 2 For each independent case, calculate any amortization of the net loss or gain that should be included as a component of pension expense for 2024. Note: Enter your answer in thousands (i.e., 10,000 should be entered as 10). Not anin or lane ($ in thousands) Case 1 Case 2 225 307 Case 3 305
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:S
Hicks Cable Company has a defined benefit pension plan. Three alternative possibilities for pension-related data at January 1,
are shown below:
Net loss (gain)-AOCI, January 1
2024 loss (gain) on plan assets
2024 loss (gain) on PBO
Accumulated benefit obligation, January 1
Projected benefit obligation, January 1
Fair value of plan assets, January 1
Average remaining service period of active
employees (years)
Required:
Case 1
$ 335
(26)
($ in thousands)
Case 2
$ (397)
(23)
Case 3.
305
5
(38)
31
(3,100)
(2,700)
(3,460)
(2,820)
2,950
2,850
(310)
(1,600)
(1,850)
1,700
12
14
10
1. For each independent case, calculate any amortization of the net loss or gain that should be included as a component of pens
expense for 2024,
2. For each independent case, determine the net loss-AOCI or net gain-AOCI as of January 1, 2025.
Complete this question by entering your answers in the tabs below.
Required 1 Required 2
For each independent case, calculate any amortization of the net loss or gain that should be included as a component of
pension expense for 2024.
Note: Enter your answer in thousands (i.e., 10,000 should be entered as 10).
Not anin or lane
($ in thousands)
Case 1
Case 2
225
307
Case 3
305
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