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Crane Corp. has the following beginning-of-the-year present values for its projected benefit obligation and market-related...

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Accounting

Crane Corp. has the following beginning-of-the-year present values for its projected benefit obligation and market-related values for its pension plan assets.ProjectedBeneftObligationPlanAssetsValue2024$2,480,000$2,356,00020252,976,0003,100,00020263.658.0003,224,00020274,464,0003.720,000The average remaining service life per employee in 2024 and 2025 is 10 years: and in 2026 and 2027, is 12 years. The net gain or loss that occurred during each year is as follows: 2024. $347.200 loss: 2025, $111,600 loss: 2026, $13.640 loss; and 2027,531,000 gain.(In working the solution, the gains and losses must be aggregated to arrive at year-end balances.)Using the corridor approach, compute the amount of net gain or loss amortized and charged to pension expense in each of the four years. setting up an appropriate schedule.
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