The following information pertains to Havana Corporation's defined benefit pension plan: $\begin{array}{lrr}\$ 111000 \mathrm{~s})&2018 & 2019 \&\text { Beginning } & \text { Beginning } \&\text { Beginning } & \text { Beginning } \
\text { Projected benefit obligation } & \$(6,000) & \$(6,504) \
\text { Plan assets } & 5,760 & 6,336 \
\text { Prior service cost-AOCI } & 600 & 552\
\text { Net loss-AOCI }&720,786
\end{array}$ At the end of 2018, 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 the 2018 pension expense for Havana's plan?

Question

The following information pertains to Havana Corporation's defined benefit pension plan: $\begin{array}{lrr}\$ 111000 \mathrm{~s})&2018 & 2019 \&\text { Beginning } & \text { Beginning } \&\text { Beginning } & \text { Beginning } \
\text { Projected benefit obligation } & \$(6,000) & \$(6,504) \
\text { Plan assets } & 5,760 & 6,336 \
\text { Prior service cost-AOCI } & 600 & 552\
\text { Net loss-AOCI }&720,786
\end{array}$ At the end of 2018, 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 the 2018 pension expense for Havana's plan?

Quizplus · Accepted Answer

The computation is as follows: 11ea937b_35b6_6e51_a419_5f8453e1b06f_TB2599_00

The Following Information Pertains to Havana Corporation's Defined Benefit Pension