A-1 The following data are for the pension plan for the employees of Cullumber Company.Accumulated benefit obligationProjected benefit obligationPlan assets (at fair value)AOCL-net lossSettlement rate (for year)Expected rate of return (for year)1/1/25$5034000$624000.$424000.$334000.O $534000.54340004634000012/31/25$5234000565800060340009940009%7%12/31/26$68340007434000665800010340008%6%Cullumber's contribution was $874000 in 2026 and benefits paid were $784000. Cullumber estimates that the averageremaining service life is 15 years.The actual return on plan assets in 2026 was

Answered: The actual return on plan assets in…

Business

Accounting

The actual return on plan assets in 2026 was O $624000. O $424000. O $334000. O $534000.

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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Question

A-1

The following data are for the pension plan for the employees of Cullumber Company.
Accumulated benefit obligation
Projected benefit obligation
Plan assets (at fair value)
AOCL-net loss
Settlement rate (for year)
Expected rate of return (for year)
1/1/25
$5034000
$624000.
$424000.
$334000.
O $534000.
5434000
4634000
0
12/31/25
$5234000
5658000
6034000
994000
9%
7%
12/31/26
$6834000
7434000
6658000
1034000
8%
6%
Cullumber's contribution was $874000 in 2026 and benefits paid were $784000. Cullumber estimates that the average
remaining service life is 15 years.
The actual return on plan assets in 2026 was

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