Question
On January 1, 2018, Blossom Co. has the following balances: Projected benefit obligation$5400000 Fair value of plan assets4800000 The settlement rate is 10%. Other data
On January 1, 2018, Blossom Co. has the following balances:
Projected benefit obligation$5400000
Fair value of plan assets4800000
The settlement rate is 10%. Other data related to the pension plan for 2018 are:
Service cost$318000
Amortization of prior service costs71000
Contributions358000
Benefits paid333000
Actual return on plan assets350000
Amortization of net gain23800
The balance of the projected benefit obligation at December 31, 2018 is
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College Accounting Chapters 1-24
Authors: Tracie L Nobles, Cathy Scott
11th Edition
1111528306, 978-1111528300
