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Oriole Company sponsors a defined benefit pension plan. The corporation's actuary provides the following information about the plan. January 1, 2025 December 31, 2025 Vested benefit obligation $1,410 $1,780 Accumulated benefit obligation 1,780 2,890 Projected benefit obligation 2,360 3,580 Plan assets (fair value) 1,850 2,620 Settlement rate and expected rate of return 10% Pension asset/liability 510 Service cost for the year 2025 $420 Contributions (funding in 2025) 740 Benefits paid in 2025 190 (a) Compute the actual return on the plan assets in 2025. Actual return on the plan assets $

Oriole Company sponsors a defined benefit pension plan. The corporation's actuary provides the following information about the plan. January 1, 2025 December 31, 2025 Vested benefit obligation $1,410 $1,780 Accumulated benefit obligation 1,780 2,890 Projected benefit obligation 2,360 3,580 Plan assets (fair value) 1,850 2,620 Settlement rate and expected rate of return 10% Pension asset/liability 510 Service cost for the year 2025 $420 Contributions (funding in 2025) 740 Benefits paid in 2025 190 (a) Compute the actual return on the plan assets in 2025. Actual return on the plan assets $

FINANCIAL ACCOUNTING
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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Oriole Company sponsors a defined benefit pension plan. The corporation's actuary provides the following information about the plan. January 1, 2025 December 31, 2025 Vested benefit obligation $1,410 $1,780 Accumulated benefit obligation 1,780 2,890 Projected benefit obligation 2,360 3,580 Plan assets (fair value) 1,850 2,620 Settlement rate and expected rate of return 10% Pension asset/liability 510 Service cost for the year 2025 $420 Contributions (funding in 2025) 740 Benefits paid in 2025 190 (a) Compute the actual return on the plan assets in 2025. Actual return on the plan assets $
Transcribed Image Text:Oriole Company sponsors a defined benefit pension plan. The corporation's actuary provides the following information about the plan. January 1, 2025 December 31, 2025 Vested benefit obligation $1,410 $1,780 Accumulated benefit obligation 1,780 2,890 Projected benefit obligation 2,360 3,580 Plan assets (fair value) 1,850 2,620 Settlement rate and expected rate of return 10% Pension asset/liability 510 Service cost for the year 2025 $420 Contributions (funding in 2025) 740 Benefits paid in 2025 190 (a) Compute the actual return on the plan assets in 2025. Actual return on the plan assets $
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