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 |
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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