Compute the year-end balance in aoci-net actuarial loss

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Reference no: EM131791824

Question: Bonny Corp. has a defined benefit pension plan for its employees who have an average remaining service life of 10 years. The following information is available for 2013 and 2014 related to the pension plan:

Bonny Corp. had no beginning balance in its AOCI-net actuarial (gain) loss on January 1, 2013. The actuarial (gains) losses on PBO arose due to changes in assumptions made by the actuaries regarding salary increases (2013) and mortality estimates (2014).

Required: 1. Compute Bonny's PBO at December 31, 2013, and December 31, 2014.

2. Compute the fair value of plan assets at December 31, 2013, and December 31, 2014.

3. Compute the year-end balance in AOCI-net actuarial loss (gain) for Bonny Corp. for 2013 and 2014.

4. Compute OCI for the years ended December 31, 2013, and December 31, 2014.

Reference no: EM131791824

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