During the year 3 gruber paid out 20000 in benefits and, Ask an Expert

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Gruber Enterprises started its defined benefit pension plan on January 1, 20X1. By the beginning of year 3, the company had accumulated $300,000 in pension plan assets and was already making benefit payment to its employees. During the year 3, Gruber paid out $20,000 in benefits and continued to contribute $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?

a) $7,000

b) $27,000

c) $37,000

d) $47,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9407499

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