The following data relate to Ramesh Company's defined benefit pension plan: ($ in millions) $ 600 60 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 Pension Plan Assets Beginning of the year End of the year $ 48 100 10 11 72 0
The following data relate to Ramesh Company's defined benefit pension plan: ($ in millions) $ 600 60 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 Pension Plan Assets Beginning of the year End of the year $ 48 100 10 11 72 0
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Vinubhai
Transcribed Image Text:The following data relate to Ramesh Company's defined benefit pension plan:
($ in millions)
$ 600
60
48
100
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 sig
Pension Plan Assets
Beginning of the year
End of the year
$
10
11
72
0
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