The following data are for the pension plan for the employees of Carla Vista Company. Accumulated benefit obligation Projected benefit obligation Plan assets (at fair value) AOCL-net loss Settlement rate (for year) Expected rate of return (for year) 1/1/20 $5700000 6100000 5300000 0 12/31/20 $5900000 6300000 6700000 1023000 11% 9% 12/31/21 $7500000 8100000 7300000 1070000 10% 7% Carla Vista's contribution was $910000 in 2021 and benefits paid were $820000. Carla Vista estimates th the average remaining service life is 10 years.

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 4E
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The following data are for the pension plan for the employees of Carla Vista Company.
Accumulated benefit obligation
Projected benefit obligation
Plan assets (at fair value)
AOCL - net loss
Settlement rate (for year)
Expected rate of return (for year)
1/1/20
$5700000
$107000.
$35300.
$41300.
$102300.
6100000
5300000
0
12/31/20
$ 5900000
6300000
6700000
1023000
11%
9%
12/31/21
$ 7500000
8100000
7300000
1070000
10%
Carla Vista's contribution was $910000 in 2021 and benefits paid were $820000. Carla Vista estimates that
the average remaining service life is 10 years.
The corridor for 2021 was $670000. The amount of AOCI-net loss amortized in 2021 was
7%
Transcribed Image Text:The following data are for the pension plan for the employees of Carla Vista Company. Accumulated benefit obligation Projected benefit obligation Plan assets (at fair value) AOCL - net loss Settlement rate (for year) Expected rate of return (for year) 1/1/20 $5700000 $107000. $35300. $41300. $102300. 6100000 5300000 0 12/31/20 $ 5900000 6300000 6700000 1023000 11% 9% 12/31/21 $ 7500000 8100000 7300000 1070000 10% Carla Vista's contribution was $910000 in 2021 and benefits paid were $820000. Carla Vista estimates that the average remaining service life is 10 years. The corridor for 2021 was $670000. The amount of AOCI-net loss amortized in 2021 was 7%
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