# Calculation Of Gain Or Loss On Plan Assets

Question

The following information relates to the pension plan for the employees of Turner Co.: Turner estimates that the average remaining service life is 16 years. Turner's contribution was \$378,000 in 2013 and benefits paid were \$282,000.

 1/1/12 1/1/13 1/1/14 Projected benefit obligation 2,790,000 2,988,000 4,002,000 Fair value of plan assets 2,550,000 3,120,000 3,444,000 AOCI- net (gain) or loss -0- (432,000) (480,000) Settlement rate (for year) 11% 11% Expected rate of return (for year) 8% 7%

Turner estimates that the average remaining service life is 16 years. Turner's contribution
was \$378,000 in 2013 and benefits paid were \$282,000.

The unexpected gain or loss on plan assets in 2013 is

a. \$19,680 loss.
b. \$11,280 gain.
c. \$9,600 gain.
d. \$107,280 gain.

Summary

The question belongs to Accounting and it discusses about calculation of unexpected gain or loss on plan assets for the year.

Total Word Count 18

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