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Calculate the pension asset

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Reference no: EM132045298

Question:

Montoya Company has available the following information about its defined-benefit pension plan for the year ending December 31, 2018:

Service cost for 2018  $45,000
Accumulated benefit obligation 683,000
Plan assets at fair value 630,000
Accumulated OCI (PSC) 300,000
Vested benefit obligation 505,000
Market-related asset value 725,000
Projected benefit obligation 865,000
Accumulated OCI net gain 90,000
Interest on projected benefit obligation 64,000

Instructions

Calculate the pension asset / liability to be recorded at December 31, 2018.

Calculate the 2018 amortization of the net gain. The average remaining service life of employees is 10 years.

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This assignment deals with a quick review of the accounting analysis of the pension calculation based on plan assets along with the computing amortization of employee expenses.

Reference no: EM132045298

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12/17/2018 1:58:58 AM

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