The following amounts have been abstracted from a firm’s pension work paper for the year ended December 31, 2021:

• Plan assets 1/1/21 $ 715,000 
• Projected benefit obligation 1/1/21 810,000 
• Service cost 84,000 
• Interest cost 48,600 
• Expected return 82,500 
• Actual return 63,600 
• Amortization of prior service cost 7,500 
• Employer contribution 65,000 Pensions paid 112,500 
• Amortization of unexpected loss 900

Increase in projected benefit obligation at 12/31/21 resulting from actuarial changes 45,000

1. At December 31, 2021, what is the fair value of pension assets? 

A. $731,100. 

B. $743,200. 

C. $658,500. 

D. $724,800.

Answer rating: 100% (QA)

Solution The answer is A Pens... View the full answer