HW17answers

HW17answers - E 17-5 Determine pension plan assets LO4 The...

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E 17-5 Determine pension plan assets LO4 The following data relate to Voltaire Company’s defined benefit pension plan during 2007: ($ in millions) Plan assets at fair value, January 1 $ 530 Expected return on plan assets 53 Actual return on plan assets 42 Contributions to the pension fund (end of year) 88 Amortization of net loss 9 Pension benefits paid (end of year) 10 Pension expense 64 Required: Determine the amount of pension plan assets at fair value on December 31, 2007. ($ in millions) Pension plan assets at fair value on December 31, 2007 = $ 650 E 17-7 Changes in plan assets; determine cash contributions LO4 Pension data for Fahy Transportation, Inc. include the following: ($ in millions) Discount rate, 7% Expected return on plan assets, 10% Actual return on plan assets, 11% Projected benefit obligation, January 1, 2007 $730 Plan assets (fair market value), January 1, 2007 700 Plan assets (fair market value), December 31, 2007 750 Benefit payments to retirees, December 31, 2007 66 Required: Assuming cash contributions were made at the end of the year, what was the amount of those contributions for 2007? ($ in millions) Cash contributions = $ 39 E 17-9 Determine pension expense LO6 LO7 Abbott and Abbott has a noncontributory, defined benefit pension plan. At December 31, 2007, Abbott and Abbott received the following information:
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HW17answers - E 17-5 Determine pension plan assets LO4 The...

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