On January 1, 2020, Alpha Inc. reported a $12,000 credit balance in Accumulated OCIPension Gain/Loss...
70.2K
Verified Solution
Link Copied!
Question
Accounting
On January 1, 2020, Alpha Inc. reported a $12,000 credit balance in Accumulated OCIPension Gain/Loss related to its defined pension plan. The company had a PBO balance on January 1, 2020, of $80,000 and on December 31, 2020, of $100,000. The company had a plan asset balance on January 1, 2020, of $70,000 and on December 31, 2020, of $98,000. Alpha Inc. amortized unrecognized gains and losses using the corridor approach over the average remaining service life of employees (7 years).
What amount (if any) of the pension gain/loss is amortized in 2020
| a. | $250 increase to pension expense
| |
| b. | $571 decrease to pension expense
| |
| c. | $400 increase to pension expense
| |
| d. | $340 decrease to pension expense |
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.