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Computing the prior service cost amortization

Response to the following problem:

Mancuso Corporation amended its pension plan on January 1, 2014, and granted $160,000 of prior service costs to its employees. The employees are expected to provide 2,000 service years in the future, with 350 service years in 2014.

Compute prior service cost amortization for 2014.

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Taxation: Computing the prior service cost amortization

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Taxation: Computing the prior service cost amortization

Reference No:- TGS02123242

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