Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following information pertains to Havana Corporation's defined benefit pension plan: ($ in thousands) Projected benefit obligation Plan assets Prior service cost-AOCI Net loss-AOCI 2021

image text in transcribedimage text in transcribed

The following information pertains to Havana Corporation's defined benefit pension plan: ($ in thousands) Projected benefit obligation Plan assets Prior service cost-AOCI Net loss-AOCI 2021 Beginning balances $(6,600) 6,360 660 2022 Beginning balances $(7,104) 6,936 600 780 846 At the end of 2021, Havana contributed $665 thousand to the pension fund and benefit payments of $654 thousand were made to retirees. The expected rate of return on plan assets was 10%, and the actuary's discount rate is 8%. There were no changes in actuarial estimates and assumptions regarding the PBO. What is Havana's 2021 actual return on plan assets? Multiple Choice $565 thousand. $678 thousand. O $1,219 thousand. None of these are correct

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Evidence Based Audit In General Practice

Authors: Richard Baker, Robin C. Fraser MD FRCGP, Mayur Lakhani MRCP MRCGP DCH

1st Edition

075063104X, 978-0750631044

More Books

Students also viewed these Accounting questions