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

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Accounting

Pharoah Corp. has the following beginning-of-the-year present values for its projected benefit obligation and market-related values for its pension plan assets.
Projected
Benefit
Obligation
Plan
Assets
Value
2024
$2,340,000 $2,223,000
2025
2,808,0002,925,000
2026
3,451,5003,042,000
2027
4,212,0003,510,000
The 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, $327,600 loss; 2025, $105,300 loss; 2026, $12,870 loss; and 2027, $29,250 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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