Blues Company implemented a defined benefit pension plan for its employees. The following data are provided for 2021 and 2020.      2021 2020 Projected Benefit Obligation, December 31 $450,000 $420,000 Plan Assets, December 31 405,000 360,000 Actual return on plan assets 21,600   Benefits paid to employees 7,200   Determine the employer's contribution in 2021.

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Analyzing Change in Plan Asset Balance

Blues Company implemented a defined benefit pension plan for its employees. The following data are provided for 2021 and 2020. 

 

  2021 2020
Projected Benefit Obligation, December 31 $450,000 $420,000
Plan Assets, December 31 405,000 360,000
Actual return on plan assets 21,600  
Benefits paid to employees 7,200  


Determine the employer's contribution in 2021.

Employer contributions  
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