A company's pension plan assets were $120 million at the beginning of the year and $133 million at the end of the year. During the year, the plan paid out $12 million in retiree benefits and received $8 million in new contributions. Calculate the percentage rate of return on plan assets.

A company's pension plan assets were $120 million at the beginning of the year and $133 million at the end of the year. During the year, the plan paid out $12 million in retiree benefits and received $8 million in new contributions. Calculate the percentage rate of return on plan assets.

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 9RE: Given the following information for Tyler Companys pension plan at the beginning of the year,...

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Provide correct answer general Accounting question

A company's pension plan assets were $120 million at
the beginning of the year and $133 million at the end of
the year. During the year, the plan paid out $12 million
in retiree benefits and received $8 million in new
contributions. Calculate the percentage rate of return on
plan assets.

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