Question
The following information pertains to LL Marshall Corporation's defined benefit pension plan: ($ in thousands)2024 Beginning balances2025 Beginning balancesProjected benefit obligation$ (7,900)$ (8,404)Plan assets7,6008,236Prior service
The following information pertains to LL Marshall Corporation's defined benefit pension plan:
($ in thousands)2024 Beginning balances2025 Beginning balancesProjected benefit obligation$ (7,900)$ (8,404)Plan assets7,6008,236Prior service costAOCI790730Net lossAOCI$ 910$ 980At the end of 2024, LL Marshall contributed $742 thousand to the pension fund and benefit payments of $784 thousand were made to retirees. The expected 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 2024 service cost for LL Marshall's plan?
Multiple Choice
$428 thousand
$615 thousand
$735 thousand
Cannot be determined from the given information
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Financial Accounting And Reporting
Authors: Barry Elliott, Jamie Elliott
15th Edition
0273760882, 9780273760887
