Question: At January 1, 2014, Archer Co.'s PBO is $500,000 and the fair value of its pension plan assets is $630,000. The average remaining service period of Archer's employees is 12 years. The AOCI-net actuarial loss (gain) at January 1, 2014, is $(70,000). The following additional information is available related to Archer's actuarial gains and losses:
|
|
2014
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2015
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2016
|
|
New actuarial loss (gain) on PBO
|
$(30,000)
|
$65,000
|
$(63,000)
|
|
New deferred loss (gain) on plan assets
|
60,000
|
55,000
|
(32,000)
|
|
PBO at 12/31
|
560,000
|
675,000
|
628,000
|
|
Fair value of plan assets at 12/31
|
575,000
|
530.000
|
650,000
|
Required: For each year, 2014 through 2016, compute
1. The amount of recognized loss (gain) to be included in pension expense. Be sure to indicate whether the recognized amount increases or decreases pension expense.
2. The ending balance of AOCI-net actuarial (gain) loss.
3. OCI-net actuarial (gain) loss.