The following information is relevant to AllenCo's defined benefit pension plan for 2022 (al numbers in thousands): • Service cost: $1,500 • Interest cost: $2,500 • Expected return on plan assets: $2,000 Actual return on plan assets: $1,300 • Amendment of pension plan (increasing pension liability): $200 Gain due to change in longevity assumptions: $250 • Amortization of prior service cost: $50 • Amortization of accumulated gains and losses (have a net loss in AOCI): $8 If you need a tax rate, just refer to t (e.g., use 100t to denote $100 x t).

The following information is relevant to AllenCo's defined benefit pension plan for 2022 (al numbers in thousands): • Service cost: $1,500 • Interest cost: $2,500 • Expected return on plan assets: $2,000 Actual return on plan assets: $1,300 • Amendment of pension plan (increasing pension liability): $200 Gain due to change in longevity assumptions: $250 • Amortization of prior service cost: $50 • Amortization of accumulated gains and losses (have a net loss in AOCI): $8 If you need a tax rate, just refer to t (e.g., use 100t to denote $100 x t).

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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