The following information pertains to Havana Corporation's defined benefit pension plan: ($ in thousands) 2021 2022 Beginning Beginning balances balances Projected benefit $ (6,000 ) 24 (6,504 ) obligation Plan assets 5,760 6,336 Prior service cost-AOCI 600 552 Net loss-AOCI 720 786 In 2021, Havana contributed $696 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 service cost? O 276K O 528K O 648K O Cannot be determined from the given information.

The following information pertains to Havana Corporation's defined benefit pension plan: ($ in thousands) 2021 2022 Beginning Beginning balances balances Projected benefit $ (6,000 ) 24 (6,504 ) obligation Plan assets 5,760 6,336 Prior service cost-AOCI 600 552 Net loss-AOCI 720 786 In 2021, Havana contributed $696 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 service cost? O 276K O 528K O 648K O Cannot be determined from the given information.

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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