Information on an entity's plan assets is as follows:Fair value of plan assets, Jan 1234,000ofFair value of plan assets, Dec 31299,000Contributions to the retirement fund during the120,000tionyearBenefits paid to retirees79,000Actuarial loss12,000Discount rate10%How much is the return on plan assets during the year?O 24,000O 29,400O 37,400O 23,400

Formula: Ending fair value of plan assets = Beginning fair value of assets + Contributions + Actual…

Information on an entity's plan assets is as follows: Fair value of plan assets, Jan 1 234.000 Fair value of plan assets, Dec 31 299.000 Contributions to the retirement fund during the 120.000 year Benefits paid to retirees 79,000 Actuarial loss 12.000 Discount rate 10% How much is the return on plan assets during the year? O 24.000 O 29,400 O 37,400 O 23,400

Information on an entity's plan assets is as follows: Fair value of plan assets, Jan 1 234.000 Fair value of plan assets, Dec 31 299.000 Contributions to the retirement fund during the 120.000 year Benefits paid to retirees 79,000 Actuarial loss 12.000 Discount rate 10% How much is the return on plan assets during the year? O 24.000 O 29,400 O 37,400 O 23,400

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 6MC

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