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Discuss what is the fair value of the pension plan assets

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Question 1

Double Down Company's records revealed the following related to its defined benefit pension plan:

Plan assets at fair value, January 1, 2002 $3,000,000

Expected return on plan assets in 2002 $300,000

Actual return on plan assets in 2002 $200,000

Contributions to the pension funds in 2002 $500,000

Pension benefits paid in 2002 $520,000

Current service costs $360,000

What is the fair value of the pension plan assets on December 31, 2002?

 

Reference no: EM131779493

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