Question: Information on an entity's plan assets is shown below: Fair value of plan assets, Jan 1 - 341,000 Contributions to the retirement fund during the

Information on an entity's plan assets is shown below:

Fair value of plan assets, Jan 1 - 341,000

Contributions to the retirement fund during the year - 32,000

Benefits paid to retirees - 89,000

Actuarial loss - 50,000

Fair value of plan assets, Dec. 31 - 335,000

How much is the return on plan assets during the year? show the solution and explain.

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