For Blossom Corporation, year-end plan assets were $1,998,000. At the beginning of the year, plan assets were $1,774,000. Duringthe year, contributions to the pension fund were $129,000, and benefits paid were $191,000.Compute Blossom's actual return on plan assets.Actual return on plan assets$

The actual return on plan assets is a measure of the earnings from the investments made by a pension…

Answered: For Blossom Corporation, year-end plan…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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For Warren Corporation, year-end plan assets were $2,000,000. At the beginning of the year, plan assets were $1,780,000. During the year, contributions to the pension fund were $120,000, and benefits paid were $200,000. Compute Warren’s actual return on plan assets
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Harrison Forklift's pension expense includes a service cost of $27 million. Harrison began the year with a pension liability of $47 million (underfunded pension plan). Interest cost, $8; expected return on assets, $21; amortization of net loss, $6. Interest cost, $23; expected return on assets, $17; amortization of net gain, $6. Interest cost, $23; expected return on assets, $17; amortization of net loss, $6; amortization of prior service cost, $7 million. Required:Prepare the appropriate general journal entries to record Harrison’s pension expense in each of the above independent situations regarding the other (non-service cost) components of pension expense ($ in millions): (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)
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For Blossom Corporation, year-end plan assets were $1,998,000. At the beginning of the year, plan assets were $1,774,000. During the year, contributions to the pension fund were $129,000, and benefits paid were $191,000. Compute Blossom's actual return on plan assets. Actual return on plan assets $