Question
On January 1, 2021, Ivanhoe Co. has the following balances: Projected benefit obligation $ 3600000 Fair value of plan assets 3100000 The settlement rate is
On January 1, 2021, Ivanhoe Co. has the following balances:
| Projected benefit obligation | $ 3600000 | ||
| Fair value of plan assets | 3100000 |
The settlement rate is 10%. Other data related to the pension plan for 2021 are:
| Service cost | $ 310000 | ||
| Amortization of prior service costs due to increase in benefits | 104000 | ||
| Contributions | 510000 | ||
| Benefits paid | 235000 | ||
| Actual return on plan assets | 405000 | ||
| Amortization of net gain | 32000 |
The fair value of plan assets at December 31, 2021 is
$ 3542000.
$ 3780000.
$ 4005000.
$ 3600000.
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Financial Accounting
Authors: Robert F. Meigs, Jan R. Williams, Mark S. Bettner, Susan F. Haka, Sue Haka
11th Edition
0072516682, 978-0072516685
