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coldgirl [10]
3 years ago
13

The following data relate to Ramesh Company’s defined benefit pension plan: ($ in millions) Plan assets at fair value, January 1

$ 780 Expected return on plan assets 78 Actual return on plan assets 62 Contributions to the pension fund (end of year) 136 Amortization of net loss 16 Pension benefits paid (end of year) 23 Pension expense 108 Required: Determine the amount of pension plan assets at fair value on December 31. (Enter your answers in millions. Amounts to be deducted should be indicated with a minus sign.
Business
1 answer:
Stolb23 [73]3 years ago
5 0

Answer:

$955 million

Explanation:

Calculation to Determine the amount of pension plan assets at fair value on December 31

(millions)

Plan Assets Beginning of the year $780

Actual return $62

Cash contributions $136

Less: Retiree benefits($23)

End of the year pension plan assets $955

Therefore the amount of pension plan assets at fair value on December 31 is $955 million

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