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 6MC
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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.

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