Homework answers / question archive / The following facts pertain to Grit Corporation's defined benefit pension plan: (amounts in '000s) (amounts in '000s) 2018 Beginning Bal PBO 6385 2019 Beginning Bal PBO (6,804) 2018 Plan Assets Balance 4760 2019 Plan Assets Balance 5336 Prior Service Costs - AOCI amort 48 Net loss - AOCI amort 66 Discount Rate 7% Expected return on plan assets 10% At the end of 2018, Grit contributed $696 thousand to the pension fund and benefit payments of $624 thousand were made to retirees

The following facts pertain to Grit Corporation's defined benefit pension plan: (amounts in '000s) (amounts in '000s) 2018 Beginning Bal PBO 6385 2019 Beginning Bal PBO (6,804) 2018 Plan Assets Balance 4760 2019 Plan Assets Balance 5336 Prior Service Costs - AOCI amort 48 Net loss - AOCI amort 66 Discount Rate 7% Expected return on plan assets 10% At the end of 2018, Grit contributed $696 thousand to the pension fund and benefit payments of $624 thousand were made to retirees

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The following facts pertain to Grit Corporation's defined benefit pension plan: (amounts in '000s) (amounts in '000s) 2018 Beginning Bal PBO 6385 2019 Beginning Bal PBO (6,804) 2018 Plan Assets Balance 4760 2019 Plan Assets Balance 5336 Prior Service Costs - AOCI amort 48 Net loss - AOCI amort 66 Discount Rate 7% Expected return on plan assets 10% At the end of 2018, Grit contributed $696 thousand to the pension fund and benefit payments of $624 thousand were made to retirees. There were no changes in actuarial estimates and assumptions regarding the PBO. What is the 2018 service cost for Grit's plan (be sure to show your answer to the dollar). ? 178 minutes remaining
Question 6 5 Points Using the same facts as question 5, what is GRIT's 2018 actual return on plan assets (show your calculation)? Use the editor to format your answer Question 7 5 Points Using the same facts as question 5, what is Grit's 2018 gain or loss on plan assets (show your calculation)? Use the editor to format your answer Question 8 5 Points Using the same facts as in Question 5. what is the 2018 pension expense for Grit's plan (show your calculation)? Use the editor to format your answer