The trustee for the Bronson Corporation defined benefit pension plan sent a report to the CEO with the following information for the fiscal year: Beginning balance of plan assets at fair value$1,560,000 Actual return on plan assets$210,000 Employer’s contribution$150,000 Distributions to retirees$75,000 Service cost$125,000 Interest cost$156,000 Loss from changes in benefits or assumptions$35,000 Beginning balance of the PBO$1,580,000 The ending balance of plan assets is: Multiple Choice $1,770,000. $1,845,000. $1,920,000. $1,955,000.

Computation of the ending balance of plan assets : Formula : Ending Balance plan assets = (…

Answered: The trustee for the Bronson Corporation…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter19: Accounting For Post Retirement Benefits

Section: Chapter Questions

Problem 6E

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Beginning balance of plan assets at fair value	$	1,560,000
Actual return on plan assets	$	210,000
Employer’s contribution	$	150,000
Distributions to retirees	$	75,000
Service cost	$	125,000
Interest cost	$	156,000
Loss from changes in benefits or assumptions	$	35,000
Beginning balance of the PBO	$	1,580,000