Sunland Corporation had a projected benefit obligation of $3,323,000 and plan assetsof $3,561,000 at January 1, 2025. Sunland also had a net actuarial loss of $525,700 inaccumulated OCI at January 1, 2025. The average remaining service period ofSunland's employees is 8.0 years.Compute Sunland's minimum amortization of the actuarial loss.Minimum amortization of the actuarial loss$eTextbook and Media

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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 6RE

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Sunland Corporation had a projected benefit obligation of $3,323,000 and plan assets of $3,561,000 at January 1, 2025. Sunland also had a net actuarial loss of $525,700 in accumulated OCI at January 1, 2025. The average remaining service period of Sunland's employees is 8.0 years. Compute Sunland's minimum amortization of the actuarial loss. Minimum amortization of the actuarial loss $
Sandhill Corporation had a projected benefit obligation of $3,210,000 and plan assets of $3,371,000 at January 1, 2025, Sandhill also had a net actuarial loss of $444,740 in accumulated OCI at January 1, 2025. The average remaining service period of Sandhill's employees is 6.9 years. Compute Sandhill's minimum amortization of the actuarial loss. Minimum amortization of the actuarial loss $ 62
Ivanhoe Corporation had a projected benefit obligation of $3,233,000 and plan assets of $ 3,394,000 at January 1, 2025. Ivanhoe also had a net actuarial loss of $442,900 in accumulated OCI at January 1, 2025. The average remaining service period of Ivanhoe's employees is 6.9 year.Compute Ivanhoe's minimum amortization of the actuarial loss.
Coronado Corporation had a projected benefit obligation of $2,890,000 and plan assets of $3,097,000 at January 1, 2020. Coronado also had a net actuarial loss of $437,680 in accumulated OCI at January 1, 2020. The average remaining service period of Coronado’s employees is 7.90 years.Compute Coronado’s minimum amortization of the actuarial loss. Minimum amortization of the actuarial loss
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Concord Corporation amended its pension plan on January 1, 2020, and granted $162,540of prior service costs to its employees. The employees are expected to provide1,890service years in the future, with360service years in 2020. Compute prior service cost amortization for 2020. Prior service cost amortization for 2020 $
Shamrock Corporation had a projected benefit obligation of $3,104,000 and plan assets of $3,300,000 at January 1, 2020. Shamrock also had a net actuarial loss of $455,600 in accumulated OCI at January 1, 2020. The average remaining service period of Shamrock’s employees is 8.00 years.Compute Shamrock’s minimum amortization of the actuarial loss.
Buffalo Corporation had a projected benefit obligation of $3,280,000 and plan assets of $3,446,000 at January 1, 2020. Buffalo also had a net actuarial loss of $513,520 in accumulated OCI at January 1, 2020. The average remaining service period of Buffalo’s employees is 8.20 years.Compute Buffalo’s minimum amortization of the actuarial loss. Minimum amortization of the actuarial loss $enter Buffalo’s minimum amortization of the actuarial loss
Shin Corporation had a projected benefit obligation of $3,100,000 and plan assets of $3,300,000 at January 1, 2020. Shin also had a net actuarial loss of $465,000 in accumulated OCI at January 1, 2020. The average remaining service period of Shin's employees is 7.5 years. Compute Shin's minimum amortization of the actuarial loss.
Brown Corp had a projected benefit obligation of $3,000,000 and plan assets of $2,500,000 at January 1, 2021. Brown had a net actuarial loss of $425,000 in Accumulated OCI at January 1, 2021. The average remaining service period of Brown's employees is 8 years. Calculate Brown's minimum amortization of the actuarial loss. $53,125 $18,000 $15,625 $37,500 Fly
Grouper Corporation had a projected benefit obligation of $1,280,000 and plan assets of $1,204,000 at January 1, 2017. Grouper also had a net actuarial gain of $224,000 in accumulated OCI at January 1, 2017. The average remaining service period of Grouper' employees is 8 years. Compute Grouper's minimum amortization of the actuarial loss. Minimum Amortization
2.) Shin Corporation had a projected benefit obligation of $4,300,000 and planassets of $4,100,000 at January 1, 2020. Shin also had a net actuarial loss of$565.000 in accumulated OCI-G/L at January 1, 2020. The averageremaining service period of Shin's employees is 5 years. Compute Shin'sminimum amortization of the actuarial loss for 2020, if any, using thestraight-line method.

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