$408 thousand$530 thousand$650 thousandCannot be determined from the given information The following information pertains to LL Marshall Corporation's defined benefit pension plan:2024 Beginning 2025 Beginningbalances,$ (7,600)7,300760$ 880(S in thousands)Projected benefit obligationPlan assetsPrior service cost-AOCINet loss-AOCIbalances$ (8,104)7,936720$ 960At the end of 2024, LL Marshall contributed $600 thousand to the pension fund and benefit payments of $754 thousand were made toretirees. The expected rate of return on plan assets was 12%, and the actuary's discount rate is 8%. There were no changes in actuarialestimates and assumptions regarding the PBO.What is the 2024 service cost for LL Marshall's plan?

As per IAS 19 Defined Benefit Obligation represents the present value of the future pension benefits…

The following information pertains to LL Marshall Corporation's defined benefit pension plan: 2024 Beginning 2025 Beginning balances balances $ (7,600) $ (8,104) 7,300 760 7,936 720 $ 960 $ 880 (S in thousands) Projected benefit obligation Plan assets Prior service cost-AOCI Net loss-AOCI At the end of 2024, LL Marshall contributed $600 thousand to the pension fund and benefit payments of $754 thousand were made to retirees. The expected rate of return on plan assets was 12%, and the actuary's discount rate is 8%. There were no changes in actuarial estimates and assumptions regarding the PBO. What is the 2024 service cost for LL Marshall's plan?

The following information pertains to LL Marshall Corporation's defined benefit pension plan: 2024 Beginning 2025 Beginning balances balances $ (7,600) $ (8,104) 7,300 760 7,936 720 $ 960 $ 880 (S in thousands) Projected benefit obligation Plan assets Prior service cost-AOCI Net loss-AOCI At the end of 2024, LL Marshall contributed $600 thousand to the pension fund and benefit payments of $754 thousand were made to retirees. The expected rate of return on plan assets was 12%, and the actuary's discount rate is 8%. There were no changes in actuarial estimates and assumptions regarding the PBO. What is the 2024 service cost for LL Marshall's plan?

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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