IntermediateAccountingEmployeeCompensation—PayrollPensionsandOtherCompensationIssues幻灯片.pptVIP

Thornton Electronics—2013 Service cost as reported by actuaries $115,000 Contributions to pension plan $80,000 Benefits paid to retirees $140,000 Actual return on pension fund $175,500 Obligation discount rate 11.0% Long-term expected rate of return 10.0% Accumulated benefit obligation, December 31, 2013 $1,795,150 (continues) Amortization of Deferred Net Pension Gain or Loss from Prior Years The deferred pension gain or loss from prior years is amortized over future years if it accumulates to more than an amount defined by the FASB as a corridor amount. Amortization is required only on