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Pension plan assets were $2,350 million at the beginning of the year and $2,580 million at the end of the year. At the end of the year, retiree benefits paid by the trustee were $61 millionand cash invested in the pension fund was $62 million. What was the percentage rate of return on plan assets?

Pension plan assets were $2,350 million at the beginning of the year and $2,580 million at the end of the year. At the end of the year, retiree benefits paid by the trustee were $61 millionand cash invested in the pension fund was $62 million. What was 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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Pension plan assets were $2,350 million at the beginning of the year and $2,580 million at the end of the year. At the end of the year, retiree benefits paid by the trustee were $61 millionand cash invested in the pension fund was $62 million. What was the percentage rate of return on plan assets?

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