Problem 1 - The following information relates to Billy Bob's Donuts defined benefit pension plan during the current reporting year (All the amounts are in millions):

Plan Assets at the beginning of the year       $350

Expected Return on Plan Assets                   45

Actual return on plan assets                        38

Cash Contributions                                     65

Amortization of net loss                              7

Retiree Benefits                                         8

Required - Determine the amount of pension plan assets at the fair value on Dec 31.

Problem 2 - Pension data for the Cookie Monster Company included the following for the current calendar year:

Service Cost                                          $115,000

PBO, Jan 1                                             755,000

Plan Assets, Jan 1                                   810,000

Amortization of prior service cost             7,000

Amortization of net loss                          3,000

Discount Rate= 9%

Actual return on Assets=10%

Expected Return on Plan assets=9%

Required - Determine the amount of pension expense.