3. The following information relates to the defined benefit pension plan of Company X during 2022: $ 500 million Fair value of plan assets, beginning of year Expected return on plan assets Actual return on plan assets Contributions to the pension plan Amortization of loss on plan Benefits paid to retirees Pension expense for the year 50 million 8 million 16 million 56 million Determine the amount of pension plan assets at fair value on December 31, 2022. A. $518 million B. $574 million C. $579 million D. Some other amount
3. The following information relates to the defined benefit pension plan of Company X during 2022: $ 500 million Fair value of plan assets, beginning of year Expected return on plan assets Actual return on plan assets Contributions to the pension plan Amortization of loss on plan Benefits paid to retirees Pension expense for the year 50 million 8 million 16 million 56 million Determine the amount of pension plan assets at fair value on December 31, 2022. A. $518 million B. $574 million C. $579 million D. Some other amount
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter19: Accounting For Post Retirement Benefits
Section: Chapter Questions
Problem 6RE
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