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Problem 20-3 (Part Level Submission) Ivanhoe Cormpany sponsors a defined bernefit plan for its 100 erriployees. On January 1, 2017, the cormparny's ctuary provided the
Problem 20-3 (Part Level Submission) Ivanhoe Cormpany sponsors a defined bernefit plan for its 100 erriployees. On January 1, 2017, the cormparny's ctuary provided the following information Accumulated other corrmprehensive loss (PSC) Pension plan assets (fair value and market-related asset value Accumulated benefit obligation Projected benefit obligation $151,800 201,400 263,100 380,100 The average remaining service period for the participating employecs is 10 ycars. All cmployccs are expected to receive benefits under the plan. On December 31, 2017, the actuary calculated that the present valuc of future benefits carned for employee services rendered in the current year amounted to $56,700; the projected benefit bligation was s492,500; fair value of pension assets was 276,800; the accumulated benefit obligation amounted to S367,700. The expected return on plan assets and the d so unt rate on the projected benefit obliga on ere both 10%. The actual return on plan assets s $11 300. ?e company's current year's contribution to he pension plan amounted to $64,100 No benefits were pald during the year
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