What is Havana’s 2021 gain or loss on plan assets?

Manno Corporation has the following information available concerning its defined-benefit pension plan for 2020. Service cost Contributions Interest cost Actual return on plan assets Expected return on plan assets Prior service cost amortization Benefits paid Compute Manno's 2020 pension expense. $40,000 50,000 47,400 25,000 26,900 35,000 100,000

The funded status of Patel Paneling Incorporated's defined benefit pension plan and the balances in prior service cost and the net gain-pensions, are given below. ($ in thousands ) 2024 Beginning Balances 2024 Ending Balances Projected benefit obligation $ 2,300 $ 2,501 Plan assets 2,400 2,591 Funded status 100 90 Prior service cost-AOCI 325 300 Net gain- AOCI 330 300 Retirees were paid $270, 000, and the employer contribution to the pension fund was $245,000 at the end of 2024. The expected rate of return on plan assets was 10%, and the actuary's discount rate is 7% . There were no changes in actuarial estimates and assumptions regarding the PBO. Required: Determine the actual return on plan assets of 2024. Determine the loss or gain on plan assets of 2024. Determine the service cost of 2024. Determine the pension expense of 2024. Determine the average remaining service life of active employees (used to determine amortization of the net gain) for 2024. Note: For all requirements,…

Horizon Inc. has a defined benefit pension plan. The following pension-related data were available for the current calendar year: PBO: Balance, Jan. 1 $ 235,000 Service cost 36,000 Interest cost (5% discount rate) 11,750 Gain from changes in actuarial assumptions in 2021 (4,500 )Benefits paid to retirees (15,000 )Balance, Dec. 31 $ 263,250 Plan assets: Balance, Jan.1 $ 245,000 Actual return (expected return was $22,000) 20,000 Contributions 30,000 Benefits paid (15,000 )Balance, Dec. 31 $ 280,000 ABO, Dec. 31 $ 239,500 January 1, 2021, balances: Prior service cost–AOCI (amortization $5,075/yr.) 5,075 Net gain–AOCI (amortization, if any, over 15 years) 50,750 There were no other relevant data. Required:1. Calculate the 2021 pension expense.2. Prepare the 2021 journal entries to record pension expense and funding.3. Prepare any journal entries to record any 2021 gains or losses.