(Solved): Years-of-Future-Service Amortization At the beginning of 2019, Brent Company amended its defined b ...

Years-of-Future-Service Amortization At the beginning of 2019, Brent Company amended its defined benefit pension plan. The amendment entitled five active participating employees to receive increased future benefits based on their prior service. Brent's actuary determined that the prior service cost for this amendment amounts to $330,000. Employee A is expected to retire after 1 year, employee B after 2, employee C after 3, employee D after 4, and employee E after 5 years. Required: Q1. Using the years-of-future-service method, prepare a set of schedules to determine the amortization fraction for each year. Enter the amortization fraction as a fraction. For example: 3/10. 2. Using the years-of-future-service method, prepare a set of schedules to determine the amortization of the prior service cost. Enter amounts as positive numbers.