Wildhorse Inc. has a defined benefit plan for its employees. On December 31, 2022, the company's records showed the following information related to the plan: Pension plan assets Defined benefit obligation All employees are expected to receive benefits under the plan. The company's actuary provided the following information as at December 31, 2023: $302.000 389.000 Current year service cost Past service benefits, granted July 1, 2023 Expected return on assets Actual return on assets Discount rate for DBO Contributions for the year Benefits paid to retirees $46,000 87,000 11% 9% 11% 36,500 15,600
Wildhorse Inc. has a defined benefit plan for its employees. On December 31, 2022, the company's records showed the following information related to the plan: Pension plan assets Defined benefit obligation All employees are expected to receive benefits under the plan. The company's actuary provided the following information as at December 31, 2023: $302.000 389.000 Current year service cost Past service benefits, granted July 1, 2023 Expected return on assets Actual return on assets Discount rate for DBO Contributions for the year Benefits paid to retirees $46,000 87,000 11% 9% 11% 36,500 15,600
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Wildhorse Inc. has a defined benefit plan for its employees. On December 31, 2022, the company's records showed the following
information related to the plan:
Pension plan assets
Defined benefit obligation
$302,000
389,000
All employees are expected to receive benefits under the plan. The company's actuary provided the following information as at
December 31, 2023:
Current year service cost
Past service benefits, granted July 1, 2023
Expected return on assets
Actual return on assets
Discount rate for DBO
Contributions for the year
Benefits paid to retirees
$46,000
87,000
11%
9%
11%
36,500
15,600
Transcribed Image Text:(a)
* Your answer is incorrect.
Calculate defined benefit expense for Wildhorse Inc. for 2023, assuming ASPE is used.
Defined benefit expense, 2023
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Calculate defined benefit expense for Wildhorse Inc. for 2023, assuming ASPE is used.
Defined benefit expense, 2023
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