RKR Company maintains a fund to cover its pension plan. The following data relate to the fund for 2019: January 1, 2019 Fair Value of Plan Assets (FVPA) Market-related value of the pension fund (5-year weighted average) 8,750,000 7,150,000 During 2019, the following transactions occurred: Pension benefits paid Contribution made to the fund Actual return on plan assets 600,000 700,000 950,000 What is the fair value of plan assets (FVPA) on December 31, 2019?

RKR Company maintains a fund to cover its pension plan. The following data relate to the fund for 2019: January 1, 2019 Fair Value of Plan Assets (FVPA) Market-related value of the pension fund (5-year weighted average) 8,750,000 7,150,000 During 2019, the following transactions occurred: Pension benefits paid Contribution made to the fund Actual return on plan assets 600,000 700,000 950,000 What is the fair value of plan assets (FVPA) on December 31, 2019?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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a. Compute pension expense for 2020. Amortize the full pension gain/loss over the average service life of 15 years using the straight-line method. b. Compute PBO at December 31st, 2020. c. Compute the fair value of plan assets at December 31st, 2020. Please don't provide solution in an image based thanku
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