Gruber Enterprises started its defined benefit pension plan on January 1, Year 1. By the beginning of Year 3, the company had accumulated $300,000 in pension plan assets and was already making benefit payments to its employees. During Year 3, Gruber paid out $20,000 in benefits and contributed $70,000 to the plan. The plan assets had a fair market value of $377.000 What was the amount of the return on plan assets in Year 3? O S7,000 O $27,000 O $37,000 O $47,000

Gruber Enterprises started its defined benefit pension plan on January 1, Year 1. By the beginning of Year 3, the company had accumulated $300,000 in pension plan assets and was already making benefit payments to its employees. During Year 3, Gruber paid out $20,000 in benefits and contributed $70,000 to the plan. The plan assets had a fair market value of $377.000 What was the amount of the return on plan assets in Year 3? O S7,000 O $27,000 O $37,000 O $47,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter19: Accounting For Post Retirement Benefits

Section: Chapter Questions

Problem 3MC

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