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What was the fair value of plan assets at december

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Reference no: EM132610159

Question - On January 1, 2018, INXS Company had the following balances:

Projected benefit obligation 1,245,400

Fair value of plan assets 965,400

The settlement rate, as well as the expected return rate, is 5%. Other data related to the pension plan for 2018 were:

Service cost 61,200

Amortization of prior service costs 13,400

Contributions 29,500

Benefits paid 36,800

Actual return on plan assets 41,900

Amortization of net gain 11,400

Required -

What was the fair value of plan assets at December 31, 2018?

What amount was recorded for pension expense for year 2018?

Reference no: EM132610159

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