Answered: had a net actuarial gain of $224,000 in…

had a net actuarial gain of $224,000 in accumulated OCI at January 1, 2017. The average remaining service period of employees is 8 years. Compute Grouper's minimum amortization of the actuarial loss.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter19: Accounting For Post Retirement Benefits

Section: Chapter Questions

Problem 6RE

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Question

Grouper Corporation had a projected benefit obligation of $1,280,000 and plan assets of $1,204,000 at January 1, 2017. Grouper also
had a net actuarial gain of $224,000 in accumulated OCI at January 1, 2017. The average remaining service period of Grouper'
employees is 8 years. Compute Grouper's minimum amortization of the actuarial loss.
Minimum Amortization

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