Information for the Crane Company pension plan in 2026 is as follows: Service cost is $67000 Settlement rate is 10% expected rate of return is 10% Actual return on plan assets is $170000 There are no prior service costs to amortize Annual funding contribution is $92000 Benefits paid to retirees during the year are 574000 Average service life of all covered employees is 15 years The projected benefit obligation on January 1, 2026 was $1120000 The value of plan assets on January 1 2026 was $920000 The balance in Other Comprehensive Income-Gains/Losses is a $155000 credit on December 31,2025. What is the amount of amortization of the other comprehensive income gain or loss in 20267 $9200 $2867 C$112000 $3800
Information for the Crane Company pension plan in 2026 is as follows: Service cost is $67000 Settlement rate is 10% expected rate of return is 10% Actual return on plan assets is $170000 There are no prior service costs to amortize Annual funding contribution is $92000 Benefits paid to retirees during the year are 574000 Average service life of all covered employees is 15 years The projected benefit obligation on January 1, 2026 was $1120000 The value of plan assets on January 1 2026 was $920000 The balance in Other Comprehensive Income-Gains/Losses is a $155000 credit on December 31,2025. What is the amount of amortization of the other comprehensive income gain or loss in 20267 $9200 $2867 C$112000 $3800
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter19: Accounting For Post Retirement Benefits
Section: Chapter Questions
Problem 7RE
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Question
![Information for the Crane Company pension plan in 2026 is as follows:
Service cost is $67000
Settlement rate is 10% expected rate of return is 10%
Actual return on plan assets is $170000
There are no prior service costs to amortize
Annual funding contribution is $92000
Benefits paid to retirees during the year are 574000
Average service life of all covered employees is 15 years
The projected benefit obligation on January 1, 2026 was $1120000
The value of plan assets on January 1 2026 was $920000
The balance in Other Comprehensive Income-Gains/Losses is a $155000 credit on
December 31,2025.
What is the amount of amortization of the other comprehensive income gain or loss in 20267
$9200
$2867
C$112000
$3800](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9d212add-33e6-42fc-abc1-6575c414e747%2F1887e27f-0013-46a5-8714-834f8eb009ba%2Fyyyhyds_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Information for the Crane Company pension plan in 2026 is as follows:
Service cost is $67000
Settlement rate is 10% expected rate of return is 10%
Actual return on plan assets is $170000
There are no prior service costs to amortize
Annual funding contribution is $92000
Benefits paid to retirees during the year are 574000
Average service life of all covered employees is 15 years
The projected benefit obligation on January 1, 2026 was $1120000
The value of plan assets on January 1 2026 was $920000
The balance in Other Comprehensive Income-Gains/Losses is a $155000 credit on
December 31,2025.
What is the amount of amortization of the other comprehensive income gain or loss in 20267
$9200
$2867
C$112000
$3800
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