The following information pertains to Havana Corporation's defined benefit pension plan: ($ in thousands) Projected benefit obligation Plan assets Prior service cost-AOCI Net loss-AOCI 2021 Beginning balances $ (6,300) 6,060 630 750 $ 2022 Beginning balances $ (6,804) 6,636 565 $ 816 At the end of 2021, Havana contributed $670 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 actual return on plan assets?

The following information pertains to Havana Corporation's defined benefit pension plan: ($ in thousands) Projected benefit obligation Plan assets Prior service cost-AOCI Net loss-AOCI 2021 Beginning balances $ (6,300) 6,060 630 750 $ 2022 Beginning balances $ (6,804) 6,636 565 $ 816 At the end of 2021, Havana contributed $670 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 actual return on plan assets?

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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