Redding Corp. reported the following information in its 2017 annual report (in m

Question

Redding Corp. reported the following information in its 2017 annual report (in millions).  

Plans' assets at fair value, January 1, 2017

$18,394

Actual return on plans assets

2,034

Company contributions

1,394

Benefits paid

1,792

Expected return on plan assets

1,981

What were the pension plan assets at the end of the year?

Select one:

A. $20,030 million

B. $16,712 million

C. $13,855 million

D. $16,668 million

E. None of the above

Plans' assets at fair value, January 1, 2017

$18,394

Actual return on plans assets

2,034

Company contributions

1,394

Benefits paid

1,792

Expected return on plan assets

1,981

Explanation / Answer

Solution:

Hence option A is correct.

Computation of ending balance of Pension Plan Assets Particulars Amount Plan Assets fair value, Jan 1, 2017 $18,394.00 Add: Company contribution $1,394.00 Add: Actual return on plans assets $2,034.00 Less: Benefits paid $1,792.00 Pension plan Asset at the end of year $20,030.00

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