Use the following information for questions 28 and 29.On January 1, 2011, Parks Co. has the following balances:Projected benefit obligation ………………………….$4,200,000Fair value of plan assets …………………………………3’750,000The settlement rate is 10%. Other data related to the pension plan for 2013 are:Service cost ……………………………………………………….$240,000Amortization of prior service costs ………………………….54.000Contributions ………………………………………………………270,000Benefits paid ………………………………………………………300,000Actual return on plan assets ………………………………….264,000Amortization of net gain ………………………………………..18.0001. What is the balance of the projected benefit obligation at December 31, 2013 is___?2. What is the fair value of plan assets at December 31, 2013?View Solution:
Use the following information for questions 28 and 29 On



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *