For Bonita Sports Corporation, year-end plan assets were $4,250,000. At the beginning of the year, plan assets were $3,974,000.
During the year, contributions to the pension fund were $420,000, and benefits paid were $365,000. Compute Bonita Sport’s actual return on plan assets.
The right answer for the question that is being asked and shown above is that: "d. A sole proprietorship has a life of its own apart from its owner." It is considered as the simplest business form where one can operate. It is not a legal entity in itself.
