The following information pertains to Havana Corporation's defined benefit pension plan: ($ in thousands) 2021 2022 Beginning Beginning balances balances Projected benefit $ (6,000 ) 2$ (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 $624 thousand were made to retirees. The expected rate of return on plan assets was 10%, and the actuary's discount rate is 8%. There were no changes in actuarial estimates and assumptions regarding the PBO. What is Havana's 2021 actual return on plan assets? O 504,000 O 618,000 O 1,128,000 O 576,000
The following information pertains to Havana Corporation's defined benefit pension plan: ($ in thousands) 2021 2022 Beginning Beginning balances balances Projected benefit $ (6,000 ) 2$ (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 $624 thousand were made to retirees. The expected rate of return on plan assets was 10%, and the actuary's discount rate is 8%. There were no changes in actuarial estimates and assumptions regarding the PBO. What is Havana's 2021 actual return on plan assets? O 504,000 O 618,000 O 1,128,000 O 576,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![The following information pertains to Havana Corporation's defıned benefit pension plan:
($ in thousands)
2021
2022
Beginning
Beginning
balances
balances
Projected benefit
$ (6,000 )
(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 $624 thousand were made to
retirees. The expected rate of return on plan assets was 10%, and the actuary's discount rate is 8%. There were no changes in
actuarial estimates and assumptions regarding the PBO.
What is Havana's 2021 actual return on plan assets?
O 504,000
O 618,000
O 1,128,000
O 576,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3ee33aed-9a5b-4509-b2d5-e889c7446511%2Ffacf045d-c96d-49ad-be9b-adccd268f456%2F55cvk8_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The following information pertains to Havana Corporation's defıned benefit pension plan:
($ in thousands)
2021
2022
Beginning
Beginning
balances
balances
Projected benefit
$ (6,000 )
(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 actual return on plan assets?
O 504,000
O 618,000
O 1,128,000
O 576,000
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