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Carla Importers provides the following pension plan information. Fair value of pension plan assets, January 1, 2017 $2,417,000 Fair value of pension plan assets, December 31, 2017 2,733,000 Contributions to the plan in 2017 283,000 Benefits paid retirees in 2017 357,000 From the data above, compute the actual return on the plan assets for 2017.

Respuesta :

Answer:

$ 390,000

Explanation:

Given:

Fair value of pension plan assets on January 1, 2014 = $ 2,417,000

Fair value of pension plan assets on December 31, 2014 = $ 2,733,000

Contributions to the plan in 2014 = $ 283,000

Benefits paid retirees in 2014 = $ 357,000

Now,

At the end of the year fair value of pension plan assets will be

= Fair value of pension plan assets at the beginning + Actual returns on pension plan assets + Contributions to the plan - Benefits paid

thus,

on substituting the values, we have

$ 2,733,000  = ( $ 2,417,000  + Actual returns on pension plan assets + $ 283,000  - $ 357,000  )

or

Actual returns on pension plan assets = $ 390,000

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