Quinn Company Has a Defined Benefit Plan

question 49

Multiple Choice

Quinn Company has a defined benefit plan.The fair value of plan assets on January 1,2014,was $1,500,000.No unrecognized net loss or gain existed.On December 31,2014,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

• A) $150,000.
• B) $180,000.
• C) $224,000.
• D) $300,000.

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