The actuary for the pension plan of Pearl Inc. calculated the following net gains and losses. Incurred during the Year (Gain) or Loss 2020 $301,200 2021 484,400 2022 (207,900) 2023 (292,000) Other information about the company’s pension obligation and plan assets is as follows. As of January 1, Projected Benefit Obligation Plan Assets (market-related asset value) 2020 $3,985,900 $2,415,400 2021 4,530,500 2,216,100 2022 4,997,300 2,584,200 2023 4,211,800 3,055,000 Pearl Inc. has a stable labor force of 400 employees who are expected to receive benefits under the plan. The total service-years for all participating employees is 7,200. The beginning balance of accumulated OCI (G/L) is zero on January 1, 2020. The market-related value and the fair value of plan assets are the same for the 4-year period. Use the average remaining service life per employee as the basis for amortization. Compute the minimum amount of accumulated OCI (G/L) amortized as a component of net periodic pension expense for each of the years 2020, 2021, 2022, and 2023. Apply the “corridor” approach in determining the amount to be amortized each year. (Round answers to 0 decimal places, e.g. 2,500.) Year Minimum Amortization of (Gain) Loss 2020 $enter a dollar amount rounded to 0 decimal places - 2021 $enter a dollar amount rounded to 0 decimal places - 2022 $enter a dollar amount rounded to 0 decimal places 15882 2023 $enter a dollar amount rounded to 0 decimal places 7527
The actuary for the pension plan of Pearl Inc. calculated the following net gains and losses....
The actuary for the pension plan of Oriole Inc. calculated the following net gains and losses. Incurred during the Year (Gain) or Loss 2020 $298,200 2021 484,100 2022 (207,900) 2023 (290,000) Other information about the company's pension obligation and plan assets is as follows. Projected Benefit Obligation Plan Assets (market-related asset value) As of January 1, 2020 $4,035,800 $2,392,400 2021 4,489,600 2,212,300 2022 4,954,600 2,584,400 2023 4,231,400 3,050,500 Oriole Inc. has a stable labor force of 400 employees who are...
* Question 3
The actuary for the pension plan of Sweet Inc. calculated the
following net gains and losses.
Incurred during the Year
(Gain) or Loss
2020
$300,500
2021
480,900
2022
(210,000)
2023
(290,500)
Other information about the company’s pension obligation and plan
assets is as follows.
As of January 1,
Projected Benefit
Obligation
Plan Assets
(market-related asset value)
2020
$3,984,300
$2,395,500
2021
4,490,000
2,213,900
2022
4,980,800
2,580,400
2023
4,273,200
3,021,400
Sweet Inc. has a stable labor force of 400...
The actuary for the pension plan of Gustafson Inc. calculated
the following net gains and losses.
Incurred during the Year
(Gain) or Loss
2020
$300,000
2021
480,000
2022
(210,000)
2023
(290,000)
Other information about the company’s pension obligation and plan
assets is as follows.
As of January 1,
Projected Benefit
Obligation
Plan Assets
(market-related asset value)
2020
$4,000,000
$2,400,000
2021
4,520,000
2,200,000
2022
5,000,000
2,600,000
2023
4,240,000
3,040,000
Gustafson Inc. has a stable labor force of 400 employees who are...
The actuary for the pension plan of Carla Inc. calculated the following net gains and losses. Incurred during the Year (Gain) or Loss 2020 $302,100 2021 479,800 2022 (208,400) 2023 (288,100) Other information about the company's pension obligation and plan assets is as follows. Projected Benefit Obligation Plan Assets (market-related asset value) As of January 1, 2020 $4,006,100 $2,395,800 2021 4,486,000 2,181,600 2022 4,971,200 2,591,700 2023 4,238,300 3,060,100 Carla Inc. has a stable labor force of 400 employees who are...
The actuary for the pension plan of Bridgeport Inc. calculated the following net gains and losses. Incurred during the Year (Gain) or Loss 2020 $301,000 2021 475,500 2022 (209,400) 2023 (287,600) Other information about the company’s pension obligation and plan assets is as follows. As of January 1, Projected Benefit Obligation Plan Assets (market-related asset value) 2020 $3,968,000 $2,421,100 2021 4,529,000 2,190,800 2022 4,987,000 2,586,100 2023 4,202,300 3,050,400 Bridgeport Inc. has a stable labor force of 400 employees who are...
The actuary for the pension plan of Bridgeport Inc. calculated the following net gains and losses. Incurred during the Year (Gain) or Loss 2020 $301,000 2021 475,500 2022 (209,400) 2023 (287,600) Other information about the company’s pension obligation and plan assets is as follows. As of January 1, Projected Benefit Obligation Plan Assets (market-related asset value) 2020 $3,968,000 $2,421,100 2021 4,529,000 2,190,800 2022 4,987,000 2,586,100 2023 4,202,300 3,050,400 Bridgeport Inc. has a stable labor force of 400 employees who are...
The actuary for the pension plan of Bridgeport Inc. calculated the following net gains and losses. Incurred during the Year (Gain) or Loss 2020 $301,000 2021 475,500 2022 (209,400) 2023 (287,600) Other information about the company’s pension obligation and plan assets is as follows. As of January 1, Projected Benefit Obligation Plan Assets (market-related asset value) 2020 $3,968,000 $2,421,100 2021 4,529,000 2,190,800 2022 4,987,000 2,586,100 2023 4,202,300 3,050,400 Bridgeport Inc. has a stable labor force of 400 employees who are...
Question 6 of 12 The actuary for the pension plan of Sweet Inc. calculated the following net gains and losses. Incurred during the Year 2020 2021 2022 2023 (Gain) or Loss $302,700 476,700 (209.000) (288,200) Other information about the company's pension obligation and plan assets is as follows. Projected Benefit Plan Assets As of January 1, Obligation (market-related asset value) 2020 $3,993,500 $2,394,800 2021 4,542,200 2,203,200 2022 4.952.900 2,575,400 2023 4,228,400 3,066,100 Sweet Inc. has a stable labor force of...
Question 5 View Policies Current Attempt in Progress The actuary for the pension plan of Sweet Inc. calculated the following net gains and losses. Incurred during the Year (Gain) or Loss 2020 $301,600 2021 475,200 2022 (209,400) 2023 (291,500) Other information about the company's pension obligation and plan assets is as follows. Projected Benefit Obligation Plan Assets (market-related asset value) As of January 1, 2020 $3,969,700 $2,389,400 2021 4,475,900 2,190,800 2022 2,587,400 5,031,000 4,233,100 2023 3,031,200 Sweet Inc. has a...
* Question 6
Cheyenne Inc. has sponsored a noncontributory, defined benefit
pension plan for its employees since 1997. Prior to 2020,
cumulative net pension expense recognized equaled cumulative
contributions to the plan. Other relevant information about the
pension plan on January 1, 2020, is as follows.
1.
The company has 200 employees. All these employees are expected
to receive benefits under the plan. The average remaining service
life per employee is 12 years.
2.
The projected benefit obligation amounted to...