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kirza4 [7]
3 years ago
15

Mistor Co. amended its pension plan on January 2 of the current year. It also granted $600,000 of unrecognized prior service cos

ts to its employees. The employees are all active and expect to provide 2,000 service years in the future, with 350 service years this year. What is Mistor's unrecognized prior service cost amortization for the year?
Business
1 answer:
vesna_86 [32]3 years ago
6 0

Answer: $105,000

Explanation:

Given, unrecognized prior service costs granted = $600,000

service years in future = 2,000

service years this year = 350

Mistor's unrecognized prior service cost amortization for the year = (unrecognized prior service costs granted) ÷ (service years in future) ×(service years this year )

= $(600000÷2000×350)

= $105,000

Hence, Mistor's unrecognized prior service cost amortization for the year = $105,000

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