Prepare a worksheet inserting January 1, 2014, balances, and showing December 31, 2014, balances. Prepare...
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Accounting
Prepare a worksheet inserting January 1, 2014, balances, and showing December 31, 2014, balances. Prepare the journal entry recording postretirement benefit expense.
Service cost $45,000
contribution to the plan 10,000
actual and expected return on plan assets 11,000
benefit paid 20,000
plan assets at January 1, 2014 110,000
accumulated postretirement benefit obligation at Jan 1, 2015 $330,000
Discount rat 8%
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