Compute funded status to be reported on the balance sheet

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Question - Using the following information, Compute the funded status to be reported on the balance sheet?

Service cost $75,000

Contribution to plan $60,000

Return on plan assets $80,000

Projected benefit obligation (beginning of the year) $900,000

Fair value of plan assets (Beginning of the year) $800,000

Prepaid/Accrued pension cost (beginning of the year) $100,000

Benefits paid in the current year $70,000

Settlement Rate 10%

Reference no: EM132488417

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