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Calculate the actual return on the plan assets

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Reference no: EM132762077

Oriole Limited sponsors a defined benefit pension plan, and follows ASPE. The corporation's actuary provides the following information about the plan (in thousands of dollars)

                                                January 1, 2020                        December 31, 2020

Vested benefit obligation               $1,400                                  $1,490
Defined benefit obligation, accounting basis 2,260                         3,016
Plan assets (fair value)                           1,360                           2,089
Interest/discount rate                               10%                             10%
Net defined benefit liability/asset                       ?                              ?
Past service cost, plan amendment, effective December 30, 2020 360
Service cost for the year 2020 300
Contributions (funding) 2020 600
Benefits paid in 2020 130

Problem 1: Calculate the actual return on the plan assets in 2020.

Reference no: EM132762077

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