Answer:
$396,000
Explanation:
Computation for the actual return on the plan assets for 2020
Fair value of pension plan assets, December 31, 2020 2,560,000
Fair value of pension plan assets, January 1, 2020 $2,240,000
Increase in fair value of plan assets $320,000
($2,560,000-$2,240,000)
Deduct: Contributions to the plan in 2020 $253,000
Less Benefits paid retirees in 2020 ($329,000)
($253,000-$329,000)
=($76,000)
Actual return on plan assets for 2020$ $396,000
($320,000+$76,000)
Therefore the actual return on the plan assets for 2020 will be $396,000
