# Calculation Of Amount Of AOCI Amortization

Question

The following information relates to the pension plan for the employees of Turner Co.: Turner estimates that the average remaining service life is 16 years. Turner's contribution was \$378,000 in 2013 and benefits paid were \$282,000.

 1/1/12 1/1/13 1/1/14 Projected benefit obligation 2,790,000 2,988,000 4,002,000 Fair value of plan assets 2,550,000 3,120,000 3,444,000 AOCI- net (gain) or loss -0- (432,000) (480,000) Settlement rate (for year) 11% 11% Expected rate of return (for year) 8% 7%

Turner estimates that the average remaining service life is 16 years. Turner's contribution was \$378,000 in 2013 and benefits paid were \$282,000.

To calculate the amount of AOCI (net gain) amortization in 2013, the corridor we should use is

a. 10% of 2,988,000.

b. 10% of 3,120,000

c. 10% Of 3,444,000

d. 10% of 4,002,000

Summary

The question belongs to Accounting and it discusses about calculation of amount of AOCI amortization for the year.

Total Word Count 24

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