Question
Tsai-Ming Company has a postretirement health care benefit plan. On January 1, 2024, the following plan related data were available: ($ in thousands) Net lossAOCI
Tsai-Ming Company has a postretirement health care benefit plan. On January 1, 2024, the following plan related data were available: ($ in thousands) Net lossAOCI $ 526 Accumulated postretirement benefit obligation 4,700 Fair value of plan assets 800 Average remaining service period to retirement 14 years (same in previous 10 years) The rate of return on plan assets during 2024 was 11%, although it was expected to be 10%. The actuary revised assumptions regarding the APBO at the end of the year, resulting in a $58,000 increase in the estimate of that obligation.
Determine the net loss or gain as of December 31, 2024. I'm coming up with 492 and my homework is saying that is incorrect. I took 526-88+58-4.
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