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Chester Company has a defined benefit plan. The fair value of plan assets on January 1, 2011, was $1,500,000. No unrecognized net loss or gain existed. On December 31, 2011, the fair value of the plan assets was $1,860,000. Benefits paid to retirees equaled $300,000. Company contributions to the plan totaled $360,000. The settlement rate was 8 percent, and the expected long-term rate of return on plan assets was 10 percent. The actual return on plan assets was
Decrease in Accounts Receivable
A reduction in the amount of money owed to a business by its customers for goods or services delivered on credit.
Non-Operating Gains
Income from activities not related to a company's core operations such as profits from investments, property sales, or currency exchange.
Retirement of Notes Payable
The process of paying off or settling a debt obligation represented by promissory notes.
Cash Flows from Operating Activities
The section of a company's cash flow statement that represents the amount of money a company brings in from its regular business activities.
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