The following data relate to Ramesh Company's defined benefit pension plan: 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: ($ in millions) $ 620 62 50 104 10 13 76 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 $ 0
The following data relate to Ramesh Company's defined benefit pension plan: 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: ($ in millions) $ 620 62 50 104 10 13 76 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 $ 0
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The following data relate to Ramesh Company's defined benefit pension plan:
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:
($ in millions)
$ 620
62
50
104
10
13
76
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
$
0
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