The following data relate to Ramesh Company’s defined benefit pension plan: ($ in millions)Plan assets at fair value, January 1 $600Expected return on plan assets 60Actual return on plan assets 48Contributions to the pension fund (end of year) 100Amortization of net loss 10Pension benefits paid (end of year) 11Pension expense 72 Required:Determine the amount of pension plan assets at fair value on December 31.
The following data relate to Ramesh Company’s defined benefit pension plan:
($ in millions)
Plan assets at fair value, January 1 $600
Expected return on plan assets 60
Actual return on plan assets 48
Contributions to the pension fund (end of year) 100
Amortization of net loss 10
Pension benefits paid (end of year) 11
Pension expense 72
Required:
Determine the amount of pension plan assets at fair value on December 31.
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