Humid Furnishings produces quality household furniture.The company has only one defined benefit pension plan,which covers its 30 carpenters.The company has completed its accounting for the year and closed its books.The draft financial statements show a defined benefit asset of $90,000.Your review of the company's records shows that the pension plan has a deficit of $50,000.The company's working papers show that $80,000 of actuarial losses remain unamortized at year-end,and $16,000 of past service cost was amortized during the year.
Required:
Determine the number of years that remain until employees are entitled to receive the additional benefits related to the past service cost.

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The Answer of Humid Furnishings produces quality household furniture.The company has only one defined benefit pension plan,which covers its 30 carpenters.The company has completed its accounting for the year and closed its books.The draft financial statements show a defined benefit asset of $90,000.Your review of the company's records shows that the pension plan has a deficit of $50,000.The company's working papers show that $80,000 of actuarial losses remain unamortized at year-end,and $16,000 of past service cost was amortized during the year.
Required:
Determine the number of years that remain until employees are entitled to receive the additional benefits related to the past service cost.

Humid Furnishings Produces Quality Household Furniture