Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN: 9781337788281
Author: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher: Cengage Learning
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Transcribed Image Text:Oriole Company has five employees participating in its defined benefit pension plan. Expected years of future service for these employees at the beginning of 2025 are as follows.
Employee
Future Years of Service
William
3
Richard
4
Elizabeth
5
Tom
6
Maria
6
On January 1, 2025, the company amended its pension plan, increasing its projected benefit obligation by $75,600.
Compute the amount of prior service cost amortization for the years 2025 through 2030 using the years-of-service method, setting up appropriate schedules.
Year
Annual Amortization
2025
2026
2027
2028
2029
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