6. On January 1, a pension fund has a balance of $X. A contribution of $200,000 is paid into the fund on a date prior to June 30. Immediately before the contribution, the balance in the fund is $1,375,000. The balance on June 30 is $1,732,500. On July 1, benefit payments of $125,000 are paid from the fund. The balance on December 31 is $1,607,500. The time weighted and dollar weighted yield rates on the fund are both equal to 21%. Determine the month in which the contribution was made.
6. On January 1, a pension fund has a balance of $X. A contribution of $200,000 is paid into the fund on a date prior to June 30. Immediately before the contribution, the balance in the fund is $1,375,000. The balance on June 30 is $1,732,500. On July 1, benefit payments of $125,000 are paid from the fund. The balance on December 31 is $1,607,500. The time weighted and dollar weighted yield rates on the fund are both equal to 21%. Determine the month in which the contribution was made.
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 3MC
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