Brief Exercise 207 Novak Corporation had a projected benefit

*Brief Exercise 20-7 Novak Corporation had a projected benefit obligation of $3,233,000 and plan assets of $3,394,000 at January 1, 2017 Novak also had a net actuarial loss of $442,900 in accumulated OCI at January 1, 2017. The average remaining service period of Novak\'s employees is 6.90 years. Compute Novak\'s minimum amortization of the actuarial loss. Minimum amortization of the actuarial loss

Solution

Answer 15000

particulars		Amortization
Projected benefit obligation	3233000
Plan assets	3394000	3394000
Corridor percentage		10%
Corridor amount		339400
Accumulated loss		442900
Excess loss subject to amortization		103500
Average remaining service		6.90
Amortized to pension expense		15000