Question 11
A company had the following information:
PBO
Plan Assets
AOCI - net loss
12/31/20 12/31/21
5,200,000 6,800,000
6,000,000 6,600,000
(960,000) (1,000,000)
The average remaining service years is 15. The entry to record the amortization of the AOCI-net loss in 2021 in the pension worksheet is:
Selected Answer: [None Given]
Answers:
Dr. Net Gain/Loss - OCI $64,000
Cr. Pension Expense $64,000
Dr. Net Gain/Loss - OCI $24,000
Cr. Pension Expense $24,000
Dr. Pension Expense $24,000
Cr. Net Gain/Loss - OCI $24,000
Dr. Pension Expense $64,000
Cr. Net Gain/Loss - OCI $64,000