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ABC Company's pension plan assets were $120 million at the beginning of the year and $135 million at the end of the year. During the year, retiree benefits paid were $12 million and employer contributions were $8 million. Calculate the percentage rate of return on plan assets.

ABC Company's pension plan assets were $120 million at the beginning of the year and $135 million at the end of the year. During the year, retiree benefits paid were $12 million and employer contributions were $8 million. Calculate the percentage rate of return on plan assets.

Intermediate Accounting: Reporting And Analysis
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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ABC Company's pension plan assets were $120 million at the beginning of the year and $135 million at the end of the year. During the year, retiree benefits paid were $12 million and employer contributions were $8 million. Calculate the percentage rate of return on plan assets.
Transcribed Image Text:ABC Company's pension plan assets were $120 million at the beginning of the year and $135 million at the end of the year. During the year, retiree benefits paid were $12 million and employer contributions were $8 million. Calculate the percentage rate of return on plan assets.
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