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6 Exercise 17-9 (Algo) Components of pension expense; IFRS (LO17-6, 17-12) Pension data for Sterling Properties include the following: 1.11 points ($ in thousands) $
6 Exercise 17-9 (Algo) Components of pension expense; IFRS (LO17-6, 17-12) Pension data for Sterling Properties include the following: 1.11 points ($ in thousands) $ 110 eBook Print 550 References 600 Service cost, 2021 Projected benefit obligation, January 1, 2021 Plan assets (fair value), January 1, 2021 Prior service cost-AOCI (2021 amortization, $9) Net loss-AOCI (2021 amortization, $2) Interest rate, 6% Expected return on plan assets, 10% Actual return on plan assets, 11% 84 105 Required: Assume Sterling Properties prepares its financial statements according to International Financial Reporting Standards (IFRS). The interest rate on high-grade corporate bonds is 6%. Determine the net pension cost. Net pension cost thousand
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