Hele I System Announcements ent Exercise 20-6 Your answer is incorrect. Try agai

Question

Hele I System Announcements ent Exercise 20-6 Your answer is incorrect. Try again. Larkspur Importers provides the following pension plan information. Fair value of pension plan assets, January 1, 2017 Fair value of pension plan assets, December 31, 2017 2,523,000 Contributions to the plan in 2017 Benefits paid retirees in 2017 $2,223,000 302,000 374,000 From the data above, compute the actual return on the plan assets for 2017, Actual return on plan assets for 2017 Click if you would like to Show Work for this question: Open Show Work 228000

Explanation / Answer

Calculate actual return on plan assets :

Plan assets, December 31,2017 2523000 Plan assets, January 1, 2017 (2223000) Increase in fair value of plan assets 300000 Deduct: contribution to plan 302000 Add: Benefits paid to retirees 374000 72000 Actual return on plan assets for 2017 372000

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