The following information pertains to Havana Corporation's defined benefit penslon plart 2022 Beginning 2021 ($ in thousands) Beginning balances balances Projected benefit obligation Plan asseta Prior service cost-AOCI S(6,900) 6,660 $(7,404) 7,236 690 610 Net loss-AOCI 810 886 At the end of 2021, Havana contributed $680 thousand to the pension fund and benefit payments of $684 thousand were made to retirees. The expechd rate of return on plan assets was 10%, and the actuary's discount rate is 7%. There were no changes in actuarial estimates and assumptions regarding the PBo. What is the 2021 service cost for Havana's plan?
The following information pertains to Havana Corporation's defined benefit penslon plart 2022 Beginning 2021 ($ in thousands) Beginning balances balances Projected benefit obligation Plan asseta Prior service cost-AOCI S(6,900) 6,660 $(7,404) 7,236 690 610 Net loss-AOCI 810 886 At the end of 2021, Havana contributed $680 thousand to the pension fund and benefit payments of $684 thousand were made to retirees. The expechd rate of return on plan assets was 10%, and the actuary's discount rate is 7%. There were no changes in actuarial estimates and assumptions regarding the PBo. What is the 2021 service cost for Havana's plan?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter19: Accounting For Post Retirement Benefits
Section: Chapter Questions
Problem 9MC
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