The following data relate to Voltaire Company’s defined benefit pension plan: ($

Question

The following data relate to Voltaire Company’s defined benefit pension plan: ($ in millions) Plan assets at fair value, January 1 $ 800 Expected return on plan assets 80 Actual return on plan assets 64 Contributions to the pension fund (end of year) 140 Amortization of net loss 16 Pension benefits paid (end of year) 25 Pension expense 112 Required: Determine the amount 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.)

Explanation / Answer

                                                                                                $ in millions

Fair value at the begining of the year                 800

Actual return on plan assets 64

Contribution to pension fund 140

Benefits paid (25)     

Closing value fair value of plan assets                                     979

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