Longlee Electrical Company maintains a fund to cover its pension plan. The following data relate to the

Question:

Longlee Electrical Company maintains a fund to cover its pension plan. The following data relate to the fund for 2013:
January 1
FVPF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $875,000
Market-related value of the pension fund (5-year weighted average) . . . . . . . . . 715,000
During year
Pension benefits paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62,000
Contributions made to the fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70,000
December 31
FVPF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 980,000
Market-related value of the pension fund (5-year weighted average) . . . . . . . . . 730,000
Compute the 2013 actual return on the pension fund for Longlee Electrical.
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Intermediate Accounting

ISBN: 978-0538479738

18th edition

Authors: Earl K. Stice, James D. Stice

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