Gingrich Importers provides the following pension plan information. Fair value of pension plan assets, January 1, 2014

Question:

Gingrich Importers provides the following pension plan information.

Fair value of pension plan assets, January 1, 2014 $2,400,000
Fair value of pension plan assets, December 31, 2014 2,725,000
Contributions to the plan in 2014 280,000
Benefits paid retirees in 2014 350,000

Instructions
From the data above, compute the actual return on the plan assets for 2014.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For answer-question

Intermediate Accounting

ISBN: 978-1118147290

15th edition

Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield

See More Books

Question Posted: Nov 12, 2022 09:56 AM

See More Questions

Gingrich Importers provides the following pension plan information. Fair value of pension plan assets, January 1, 2019...................2,400,000 Fair value of pension plan assets, December 31,...
Gingrich Importers provides the following pension plan information. Fair value of pension plan assets, January 1, 2020................................$2,400,000 Fair value of pension plan assets,...
Gingrich Importers provides the following pension plan information. Fair value of pension plan assets, January 1, 2022 ...................... 2,400,000 Fair value of pension plan assets, December 31,...
Selected financial data for Petersen Corporations revenue and income (contribution) are reproduced below: Required: a. Use common-size statements to analyze every divisions (1) contribution to total...
Why are habits once established so difficult to break?
The following data were selected from the records of Sykes Company for the year ended December 31, current year. In the following order, except for cash sales, the company sold merchandise and made...
What is the mirror-image rule?
In the spring of 2013 the Caswell Publishing Company established a custom publishing business for its business clients. These clients consisted principally of small- to medium-size companies in Round...
The OLAP (Online Analytical Processing) discussion gives examples of multidimensional information. Give your own example of useful three-dimensional information.
As a marketing manager for one of the world??s largest automakers, you are responsible for the advertising campaign for a new energy-efficient sports utility vehicle. Your support team has prepared...
Andrews Company has five employees participating in its defined benefit pension plan. Expected years of future service for these employees at the beginning of 2014 are as follows. Future Employee...
The following defined pension data of Rydell Corp. apply to the year 2014. Instructions For 2014, prepare a pension worksheet for Rydell Corp. that shows the journal entry for pension expense and the...
Coastal Fuel Oil is a distributor of fuel-oil products in the Northeast. It contracts with shippers for deliveries of home heating oil and distributes product in its own trucks. Since its storage...
Joanna is staring work with an annual salary of $40,000. If her salary increases by 5 percent a year, what will her salary be 40 years from now? If prices increase by 3 percent a year, how much...
Explain why this statement is incorrect: When two assets have a +1.00 correlation, they move up and down at the same time, with the same magnitude.
A 1989 radio commercial claimed If you have a LifeAlert security system, your chances of becoming a victim of a serious crime are 3,000 to 4,000 percent less than your neighbors. Is this possible?
Suppose that you have ten observations that have a mean of 7, a median of 6, and a standard deviation of 3. If you add 5 to the value of each observation, what are the new values of the a. Mean? b....
Explain how the following two newspaper headlines that appeared on the same day could both be accurate: Orders for Machine Tools Increased 45.5% in October ; October Orders for Machine Tools...
Let Pn(x) be the nth Taylor polynomial for f (x) = ex expanded about x0 = 0. a. For fixed x, show that pn = Pn(x) satisfies the hypotheses of Theorem 2.14. b. Let x = 1, and use Aitken's (2 method to...
Burberrys competitive advantage is through its differentiation strategy. What risk should Burberry remain aware of?
The company intends to issue 10-year bonds with a face value of $1,000. The bonds carry a coupon rate of 13%, and interest is paid semiannually. On the issue date, the market interest rate for bonds...
Bonds with a face value of $1,000 were issued for $1,025. Make the necessary journal entry on the books of the issuer.
Bonds with a face value of $1,000 were issued for $920. Make the necessary journal entry on the books of the issuer.
As a foreign exchange trader, you see the following quotes for CAD, USD and MXN: USD 0.7451/CAD MXN 5.9734/CAD MXN 8.2201/USD Is there an arbitrage opportunity, and if so, how would you exploit it?...
The weights of full-grown, purebred Bull Mastiff dogs in the United States is normally distributed. The median weight is 121 pounds, with a standard deviation of 12 pounds The weights of full-grown,...
Can the concept of "total institutions," as conceptualized by Goffman, provide insights into the ways in which enclosed, all-encompassing environments such as prisons, military barracks, and...

Gingrich Importers provides the following pension plan information. Fair value of pension plan assets, January 1, 2014

Question:

Step by Step Answer:

To compute the actual return on the plan assets for 2014 we can use the following formula Return End...View the full answer

Intermediate Accounting

Students also viewed these Business questions