Question

The following information for Cooper Enterprises is given below:December 31, 2018Assets and obligationsPlan assets (at fair value)...............................$600,000Accumulated benefit obligation...................1,110,000Projected benefit obligation........................1,200,000Other ItemsPension asset / liability, January 1, 2018.......30,000Contributions.........................................................360,000Accumulated other comprehensive loss..503,700There were no actuarial gains or losses at January 1, 2018. The average remaining service life of employees is 10 years.The amortization of Other Comprehensive Loss for 2019 is:1. $02. $38,3703. $50,3704. $69,000

Answer 1

Answer:

2. $38,3703

Explanation:

The amortization of Other Comprehensive Loss for 2019

= (Accumulated other comprehensive loss- 10%Projected Benefits Obligation)/10 years

= (503700 - 10%*1200000)/10    

= $38370

Therefore, The amortization of Other Comprehensive Loss for 2019 is $38370.