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The funded status of Patol Paneling incorporated's defined benefit pencion plan and the balances in prior service cost and the net gain-pensions, are given below.
The funded status of Patol Paneling incorporated's defined benefit pencion plan and the balances in prior service cost and the net gain-pensions, are given below. Peptirees were pald $270,000, and the employer contribution to the pension fund wos $245,000 at the end of 2024 . The expected rate of return on plan assets was 10%, and the actuary's discount rate is. 7%. There were no changes in actuariat estumutes and assumptions regarding the PBO. Required: 1. Determine the actual tetum on plan assets of 2024 . 2 Determine the lost or gain on plan absets of 2024. 3. Determine the service cost of 2024 4. Deiermine the pention expense of 2024 . Note For all requirements, enter your answers in thousands (1.e. 200,000 should be entered as 200 : The funded status of Patol Paneling incorporated's defined benefit pencion plan and the balances in prior service cost and the net gain-pensions, are given below. Peptirees were pald $270,000, and the employer contribution to the pension fund wos $245,000 at the end of 2024 . The expected rate of return on plan assets was 10%, and the actuary's discount rate is. 7%. There were no changes in actuariat estumutes and assumptions regarding the PBO. Required: 1. Determine the actual tetum on plan assets of 2024 . 2 Determine the lost or gain on plan absets of 2024. 3. Determine the service cost of 2024 4. Deiermine the pention expense of 2024 . Note For all requirements, enter your answers in thousands (1.e. 200,000 should be entered as 200
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