Question
On January 1, 2021, Ivanhoe Co. has the following balances: Projected benefit obligation $5800000 Fair value of plan assets 5200000 The settlement rate is 10%.
On January 1, 2021, Ivanhoe Co. has the following balances:
Projected benefit obligation $5800000
Fair value of plan assets 5200000
The settlement rate is 10%. Other data related to the pension plan for 2021 are:
Service cost $322000 Amortization of prior service costs 73000
Contributions 362000
Benefits paid 337000
Actual return on plan assets 354000
Amortization of net gain 24200
The balance of the projected benefit obligation at December 31, 2021 is?
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
13th edition
978-1-119-4110, 1119411483, 9781119411017, 978-1119411482
