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The following data relate to Ramesh Company's defined benefit pension plan: ($ in millions) $ 690 Plan assets at fair value, January 1 Expected return on plan assets Actual return on plan assets Contributions to the pension fund (end of year) Amortization of net loss Pension benefits paid (end of year) Pension expense 69 55 118 13 20 90 Required: Determine the amount of pension plan assets at fair value on December 31. Note: Enter your answers in millions. Amounts to be deducted should be Indicated with a minus sign.

The following data relate to Ramesh Company's defined benefit pension plan: ($ in millions) $ 690 Plan assets at fair value, January 1 Expected return on plan assets Actual return on plan assets Contributions to the pension fund (end of year) Amortization of net loss Pension benefits paid (end of year) Pension expense 69 55 118 13 20 90 Required: Determine the amount of pension plan assets at fair value on December 31. Note: Enter your answers in millions. Amounts to be deducted should be Indicated with a minus sign.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The following data relate to Ramesh Company's defined benefit pension plan: ($ in millions) $ 690 Plan assets at fair value, January 1 Expected return on plan assets Actual return on plan assets Contributions to the pension fund (end of year) Amortization of net loss Pension benefits paid (end of year) Pension expense Required: Determine the amount of pension plan assets at fair value on December 31. Note: Enter your answers in millions. Amounts to be deducted should be Indicated with a minus sign. Pension Plan Assets Beginning of the year End of the year $ 69 55 118 13 20 90 0
Transcribed Image Text:The following data relate to Ramesh Company's defined benefit pension plan: ($ in millions) $ 690 Plan assets at fair value, January 1 Expected return on plan assets Actual return on plan assets Contributions to the pension fund (end of year) Amortization of net loss Pension benefits paid (end of year) Pension expense Required: Determine the amount of pension plan assets at fair value on December 31. Note: Enter your answers in millions. Amounts to be deducted should be Indicated with a minus sign. Pension Plan Assets Beginning of the year End of the year $ 69 55 118 13 20 90 0
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