Connec. ta T.atis past due date CH 27· ,\' En Test secure https//newconnect.mhed

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Connec. ta T.atis past due date CH 27· ,' En Test secure https//newconnect.mheducation.com/flow/connect.html Pesion quir O Help Save & Exit Submit Seved f Fame Co. has a defined benefit pension plan. Two alternative possibilities for pension-related data for the current calendar year are shown below Case 1 Case 2 Net loss (gain), Jan. 1 Loes (gain) on plan annete Loss (galn) on PBO ABo, Jan PBO, Jan. Plan assets, Jan. Average remaining service period (212,400) (5,200) 11,200 196,000 1,200 (212, 000) (1,420,000) (1,270,000) 011107 (1,620,000) ,520,000 1,370,000 1,920,00 of active enployees (years) 12 10 Required: each independent case, calculate amortization of the net loss or gain that should be included as a component of pension 1. For expense for the current year 2. Determine the net loss or gain as of December 31 of the current year Complete this question by entering your answers in the tabs below Required 1 Required 2 For each independent case, calculate amortization of expense for the current year. (Input all amounts as positive values.) the net loss or gain that should be included as a com ponent of pension Net loss or gain Less: 10% corridor

Explanation / Answer

1 Case 1 Case 2 Unamoetized net loss or gain 212400 194000 Less:10% corridor 192000 152000 Excess 20400 42000 Service Period 12 10 Amortization 1700 4200 10% the PBO or Plant asses, whichever is higher (beginning of the year amount) 2 Balance Jan 1 -212400 194000 Loss(Gain) on plant assets 5200 1200 Amortization 1700 4200 Loss (Gain) on PBO 11200 -212000 Unamortized Net loss (gain) 12/31 -194300 -12600

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