The following information relates to the defined-benefit pension plan for the employees of a company: 1/1/21 12/31/21 Fair value of plan assets $227,000 $364,000 Projected benefit obligation 211,000 408,000 Accumulated benefit obligation 195,000 377,000 Accumulated OCI – Gain/Loss 48,440Dr 163,790Dr The company estimates that the average remaining service life is 25 years. The company’s contribution was $128,000 in 2021 and benefits paid were $13,000. Settlement rate for 2021 is 7% and expected rate of return is 10%. The amount of accumulated OCI-Gain/Loss amortized in 2021 is $_________. (If there should be no corridor amortization, then enter 0. If your answer is a decimal, there is no need to round your answer. Enter the amount only; DO NOT put a plus or minus sign in front of the amount.)
The following information relates to the defined-benefit pension plan for the employees of a company:
1/1/21 12/31/21
Fair value of plan assets $227,000 $364,000
Projected benefit obligation 211,000 408,000
Accumulated benefit obligation 195,000 377,000
Accumulated OCI – Gain/Loss 48,440Dr 163,790Dr
The company estimates that the average remaining service life is 25 years. The company’s contribution was $128,000 in 2021 and benefits paid were $13,000. Settlement rate for 2021 is 7% and expected
The amount of accumulated OCI-Gain/Loss amortized in 2021 is $_________. (If there should be no corridor amortization, then enter 0. If your answer is a decimal, there is no need to round your answer. Enter the amount only; DO NOT put a plus or minus sign in front of the amount.)
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
