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 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 $(6,300) 6,060 630 $ 750 2022 Beginning balances $(6,804) 6,636 565 $ 816 At the end of 2021, Havana contributed $670 thousand to the pension fund and benefit payments of $624 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 $530 thousand. $648 thousand. $1,154 thousand. 0 None of these are correct

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Entrepreneurship

Authors: Andrew Zacharakis, William D Bygrave

5th Edition

9781119563099

Students also viewed these Accounting questions