Question
On January 1, 2015, Newlin Co. has the following balances: Projected benefit obligation 3,465,000 Fair Value of Plant Assets $2,970,000 The settlement rate is 10%.
On January 1, 2015, Newlin Co. has the following balances:
Projected benefit obligation 3,465,000
Fair Value of Plant Assets $2,970,000
The settlement rate is 10%. Other data related to the pension plan for 2015 are:
Service cost $297,000 Amortization of prior service costs 99,000 Contributions 495,000 Benefits paid 222,750 Actual return on plan assets 391,050 Amortization of net gain 29,700
3. The balance of the projected benefit obligation at December 31, 2015 is
Group of answer choices
$3,861,000
$4,108,500
$3,811,500
$3,885,750
The fair value of plan assets at December 31, 2015 is
Group of answer choices
$3,633,300
$3,407,250
$3,856,050
$3,465,000
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