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19 September, 13:17

Redding Corp. reported the following information in its 2017 annual report (in millions). Plans' assets at fair value, January 1, 2017 $18,394 Actual return on plans assets 2,034 Company contributions 1,394 Benefits paid 1,792 Expected return on plan assets 1,981 What were the pension plan assets at the end of the year? A. $20,030 million B. $16,712 million C. $13,855 million D. $16,668 million E. None of the above

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  1. 19 September, 13:22
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    Pension Plan Assets at end of year = $20,030

    so correct option is A. $20,030 million

    Explanation:

    given data

    Assets value = $18,394

    Actual Return = $2,034

    Contribution = $1,394

    Benefit Paid = $1,792

    to find out

    What were the pension plan assets at the end of the year

    solution

    we get here Pension Plan Assets at end of year that is express as

    Pension Plan Assets at end of year = Assets value + Actual Return + Contribution - Benefit Paid ... 1

    put here value we get

    Pension Plan Assets at end of year = $18,394 + $2,034 + $1,394 - $1,792

    Pension Plan Assets at end of year = $20,030

    so correct option is A. $20,030 million
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