On january 1 2008 nen co. has the following balances what, Ask an Expert

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On January 1, 2008, Nen Co. has the following balances:

Projected benefit obligation $4,200,000
Fair value of plan assets 3,750,000

The settlement rate is 10%. Other data related to the pension plan for 2008 are:

Service cost $240,000
Amortization of unrecognized prior service costs 54,000
Contributions 270,000
Benefits paid 225,000
Actual return on plan assets 264,000
Amortization of unrecognized net gain 18,000

what is the fair value of plan assets at December 31, 2008 ?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M989389

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