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On January 1, 2018, Oil Trading Co.'s defined benefit pension plan had plan assets with a fair value of $850,000, and a projected benefit obligation
On January 1, 2018, Oil Trading Co.'s defined benefit pension plan had plan assets with a fair value of $850,000, and a projected benefit obligation of $775,000. In addition:
- Actual and expected return on plan assets - 6%
- Interest cost - 9%
- Service costs - $28,268
- Unamortized prior service cost - $142,498
- Employer contributions to the plan - $59,225
- Distributions to employees from the plan - $44,068
What will be the amount in plan assets at December 31, 2018?
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