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For a company with a defined pension plan, the fair value of plan assets at...

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Accounting

For a company with a defined pension plan, the fair value of plan assets at the beginning of the year was $500,000. No net gain or loss was recorded in accumulated OCI. On the last day of the discal year, the fair value of plan assets was $620,000. Benefits paid equaled $100,000, and the company made $120,000 in contributions. The discount rate was 10%, and the expected long-term rate of return on plan assets was 12%. The actual return on plan assets was

a. $100,000

b. $60,000

c. $50,000

d. $75,000

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