Question
Wildhorse Limited follows ASPE, and the company sponsors a defined benefit pension plan. Wildhorse's actuary provides the following information about the plan (in thousands
Wildhorse Limited follows ASPE, and the company sponsors a defined benefit pension plan. Wildhorse's actuary provides the following information about the plan (in thousands of dollars): January 1, 2023 December 31, 2023 Vested benefit obligation $1,500 $1,530 Defined benefit obligation, accounting basis 2,340 3,124 Plan assets (fair value) 1,360 2,080 Interest/discount rate 10% 10% Net defined benefit liability/asset ? ? Past service cost, plan amendment, effective December 30, 2023 380 Service cost for the year 2023 320 Contributions (funding) 2023 700 Benefits paid in 2023 150 Calculate the actual return on the plan assets in 2023. (Enter answers in thousands of dollars.) Actual return on the plan assets in 2023 $ LA 170000 Calculate the amount of the net defined benefit liability/asset as at January 1, 2023. (Enter answers in thousands of dollars.) Net defined benefit liability , January 1, 2023 $ 174000
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