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 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 

A.$2,490,000, 

B. $2,355,000, 

C.$2,340,000,

D.2,310,000

The fair value of plan assets at December 31, 2015 is

a. $2,337,000

b. $2,100,000

c. $2,202,000

d.$2,065,000

Answer rating: 100% (QA)

The projected benefit obligation at 31 st Decprojected benefit obligation 1 st Jan ... View the full answer