Solution-Amortization of prior service cost-plan amendment

Amortization of prior service cost-plan amendment

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Reference no: EM13553484

Amortization of Prior Service Cost-Plan Amendment

Queensland Company has five employees belonging to its pension plan. One employee is expected to retire each year over the next five years. On January 1, 2008, Queensland initiated an amendment to its pension plan that increased the PBO for the plan by $620,000. If Queensland amortizes the prior service cost of the pension plan using the sum-of-the-years'-digits method, determine the amortization for the each of the next five years.

Reference no: EM13553484

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Amortization of prior service cost-plan amendment

Reference no: EM13553484

Reference no: EM13553484

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