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Pension plan assets were $1,900 million at the beginning of the year and $2,018 million at the end of the year. At the end of the year, retiree benefits paid by the trustee were $42 million and cash invested in the pension fund was $46 million. What was the percentage rate of return on plan assets?

Pension plan assets were $1,900 million at the beginning of the year and $2,018 million at the end of the year. At the end of the year, retiree benefits paid by the trustee were $42 million and cash invested in the pension fund was $46 million. What was the percentage rate of return on 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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Pension plan assets were $1,900 million at the beginning of the year and $2,018 million at the end of the year. At the end of the year, retiree benefits paid by the trustee were $42 million and cash invested in the pension fund was $46 million. What was the percentage rate of return on plan assets?
Transcribed Image Text:Pension plan assets were $1,900 million at the beginning of the year and $2,018 million at the end of the year. At the end of the year, retiree benefits paid by the trustee were $42 million and cash invested in the pension fund was $46 million. What was the percentage rate of return on plan assets?
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