Question
On January 1, 2021, Cullumber Co. has the following balances: Projected benefit obligation $ 6800000 Fair value of plan assets 6200000 The settlement rate is
On January 1, 2021, Cullumber Co. has the following balances:
| Projected benefit obligation | $ | 6800000 | |
| Fair value of plan assets | 6200000 |
The settlement rate is 9%. Other data related to the pension plan for 2021 are:
| Service cost | $ | 332000 | |
| Amortization of prior service costs | 78000 | ||
| Contributions | 372000 | ||
| Benefits paid | 347000 | ||
| Actual return on plan assets | 364000 | ||
| Amortization of net gain | 25200 |
The balance of the projected benefit obligation at December 31, 2021 is
|
| $7744000. |
|
| $7397000. |
|
| $7262000. |
|
| $7412000. |
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The Cost Of Quality Audit
Authors: W. Jeffrey Howard
1st Edition
1902433629, 978-1902433622
