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Intermediate Accounting (Kieso)
Found in: Page 1161

Short Answer

Given the following items and amounts, compute the actual return on plan assets: fair value of plan assets at the beginning of the period $9,500,000; benefits paid during the period $1,400,000; contributions made during the period $1,000,000; and fair value of the plan assets at the end of the period $10,150,000.

Actual return on plan assets denotes the performance of assets defined under the organization's projected pension plan. It is used in a pension worksheet to determine the pension expense for a particular year.

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Step by Step Solution

Computation of actual funding made

Calculation of actual return on plan assets

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