AC 302 Week 4 Quiz 1
uestion On January 1, 2015, Newlin Co. has the following balances:
Projected benefit obligation $2,100,000
Fair value of plan assets 1,800,000
The settlement rate is 10%. Other data related to the pension plan for 2015 are:
Service cost $180,000
Amortization of prior service costs due to increase in benefits 60,000
Contributions 300,000
Benefits paid 135,000
Actual return on plan assets 237,000
Amortization of net gain 18,000
The balance of the projected benefit obligation at December 31, 2015 is
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