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Determine the balance of pension plan assets

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Question - The following information relates to XYZ Company's defined benefit pension plan during the current reporting year:

Plan assets at fair value, January 1: $650,000,000

Expected return on plan assets: 55,000,000

Actual return on plan assets: 45,000,000

Contributions to the pension fund (end of year): 95,000,000

Amortization of net loss: 0

Pension benefits paid (end of year): 30,000,000

Pension expense: 65,000,000

Required: Determine the balance of pension plan assets at fair value on December 31.

Reference no: EM132048399

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