What is the fair value of the plan asset as of December 31, 2014
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Fair value of plan asset, January 1, 2014 2,000,000
Total actual return on plan asset:
Interest income – actual 200,000
Gain on remeasurement 100,000 300,000
Tax rate on defined benefit 15%
Expected
Discount rate 6%
Contribution during the year 500,000
What is the fair value of the plan asset as of December 31, 2014?
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