Please do not Give Image format Year20222023202420252026Show calculations below: The actuary for the pension plan of Rilley Company calculated the following net gains and losses.20222023202420252026Year3,4003,60020222023202420252026End of Year(Gain) orLossOther information about the company's pension obligation and plan assets is as follows.As of January 1Projected BenefitObligation$2,5002,9003,200$310100(202)(620)(950)Plan Assets(Fair Value)$2,8003,0003,1002,9003,200Rilley Company has a stable labor force of 50 employees who are expected to receive benefits under theplan. The total service-years for all participating employees are 250. The beginning balance of AccumulatedOther Comprehensive Income (G/L) is zero on January 1, 2022. The market-related value and the fair value ofplan assets are the same for the 5-year period. Use the average remaining service life per employee as thebasis for amortization.REQUIRED: Prepare a schedule (on the following page) which reflects the minimum amount of OCI (G/L)amortized as a component of net periodic pension expense for each of the years 2022, 2023, 2024, 2025,and 2026. Apply the "corridor" approach in determining the amount to be amortized each year. (Round to thenearest dollar, if necessary.)

First, we calculate the Average remaining service life per employee. Average remaining service life…

Answered: Year 2022 2023 2024 2025 2026 Show…

Business

Accounting

Year 2022 2023 2024 2025 2026 Show calculations below:

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 7RE

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