Question
Pension data for Fahy Transportation Inc. include the following: ($ in millions) Discount rate, 8% Expected return on plan assets, 11% Actual return on plan
Pension data for Fahy Transportation Inc. include the following:
| ($ in millions) | |||
| Discount rate, 8% | |||
| Expected return on plan assets, 11% | |||
| Actual return on plan assets, 12% | |||
| Projected benefit obligation, January 1 | $ | 770 | |
| Plan assets (fair value), January 1 | 750 | ||
| Plan assets (fair value), December 31 | 800 | ||
| Benefit payments to retirees, December 31 | 78 | ||
Required: Assuming cash contributions were made at the end of the year, what was the amount of those contributions?
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Intermediate Accounting
Authors: Earl K. Stice, James D. Stice
18th edition
538479736, 978-1111534783, 1111534780, 978-0538479738
