Queensland
Importers provides the following pension plan information:
Fair
value of pension plan assets, Jan. 1, 2011 ……………….. $1,418,750
Fair
value of pension plan assets, Dec. 31, 2011 ……………… 1,596,875
Contributions
to the plan in 2011 ……………………………… 212,500
Benefits
paid retirees in 2011 ………………………………….. 218,750
Instructions
Calculate
the actual return on the plan assets for 2011.
Calculation of Actual Return on Plan Assets
Fair
value of plan assets at 12/31/11 $1,596,875
Fair
value of plan assets at 1/1/11 1,418,750
Increase
in fair value of plan assets 178,125
Deduct: Contributions to plan during 2011 $212,500
Less: benefits paid during 2011 218,750 6,250
Actual
return on plan assets for 2011 $ 184,375
