Question
The following information relates to Hatami Company's defined benefit pension plan during the current reporting year: Plan assets at fair value, January 1 $700,000,000 Expected
The following information relates to Hatami Company's defined benefit pension plan during the current reporting year: Plan assets at fair value, January 1 $700,000,000 Expected return on plan assets 60,000,000 Actual return on plan assets 50,000,000 Contributions to the pension fund (end of year) 100,000,000 Amortization of net loss 0 Pension benefits paid (end of year) 42,000,000 Pension expense 70,000,000 Required: Determine the balance of pension plan assets at fair value on December 31. (Enter your answers in millions. Amounts to be deducted should be indicated with a minus sign.)
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