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Have a question regarding pensions-
As far as I understand, OCI is an equity account, it goes to AOCI on statement of equity. Both of them decrease as you do a debit and increase as you do a credit, right?
First of all, Do you debit OCI and Credit AOCI to put OCI into AOCI account?
There is this J/E to record amortization to pension expense—-
Dr Net periodic pension cost
Cr OCI
It says you are crediting OCI to take it out of AOCI. why? Isn’t it increasing OCI by credit? Why is it decreasing AOCI?
Please help me to understand this. Thanks.
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