the following information pertains to Dreamworld Corporation's defined benefit pension plan: ($ in thousands) 2021 Beginning balances 2022 Beginning balances Projected benefit obligation $ (7,700 ) $ (8,204 ) Plan assets 7,400 8,036 Prior service cost–AOCI 770 700 Net loss–AOCI $ 890 $ 960 At the end of 2021, Dreamworld contributed $745 thousand to the pension fund and benefit payments of $764 thousand were made to retirees. The expected rate of return on plan assets was 10%, and the actuary's discount rate is 7%. There were no changes in actuarial estimates and assumptions regarding the PBO. What is the 2021 pension expense for Dreamworld’s plan?
the following information pertains to Dreamworld Corporation's defined benefit pension plan: ($ in thousands) 2021 Beginning balances 2022 Beginning balances Projected benefit obligation $ (7,700 ) $ (8,204 ) Plan assets 7,400 8,036 Prior service cost–AOCI 770 700 Net loss–AOCI $ 890 $ 960 At the end of 2021, Dreamworld contributed $745 thousand to the pension fund and benefit payments of $764 thousand were made to retirees. The expected rate of return on plan assets was 10%, and the actuary's discount rate is 7%. There were no changes in actuarial estimates and assumptions regarding the PBO. What is the 2021 pension expense for Dreamworld’s plan?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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the following information pertains to Dreamworld Corporation's defined benefit pension plan:
($ in thousands) 2021
Beginning balances 2022
Beginning balances
Projected benefit obligation $ (7,700 ) $ (8,204 )
Plan assets 7,400 8,036
Prior service cost–AOCI 770 700
Net loss–AOCI $ 890 $ 960
At the end of 2021, Dreamworld contributed $745 thousand to the pension fund and benefit payments of $764 thousand were made to retirees. The expected
What is the 2021 pension expense for Dreamworld’s plan?
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