Gingrich Importers provides the following pension plan information. Fair value of pension plan assets, January 1, 2020 $2,400,000 Fair value of pension plan assets, December 31, 2020 2,725,000 Contributions to the plan in 2020 280,000 Benefits paid retirees in 2020 350,000 Instructions From the data above, compute the actual return on the plan assets for 2020.

Gingrich Importers provides the following pension plan information. Fair value of pension plan assets, January 1, 2020 $2,400,000 Fair value of pension plan assets, December 31, 2020 2,725,000 Contributions to the plan in 2020 280,000 Benefits paid retirees in 2020 350,000 Instructions From the data above, compute the actual return on the plan assets for 2020.

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 6RE

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From the data above, compute the actual return on the plan assets for 2020.

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Fair value of pension plan assets, January 1, 2020	$2,400,000
Fair value of pension plan assets, December 31, 2020	2,725,000
Contributions to the plan in 2020	280,000
Benefits paid retirees in 2020	350,000