FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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The following information relates to the pension plan for the employees of Oriole Co.:

    1/1/20   12/31/20   12/31/21
Accum. benefit obligation   $ 9540000     $ 9960000     $ 12900000  
Projected benefit obligation     10065000       10758000       14307000  
Fair value of plan assets     9225000       11220000       12354000  
AOCI – net (gain) or loss     -0-       (1542000 )     (1710000 )
Settlement rate (for year)             10%       10%  
Expected rate of return (for year)             7%       6%  


Oriole estimates that the average remaining service life is 16 years. Oriole's contribution was $1353000 in 2021 and benefits paid were $1017000.

The corridor for 2021 is


 

 

$673200.

 

$1430700.

 

$1122000.

 

$858420.
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