Sign In Sign Up Ask an AI advisor
azaz1819
azaz1819
30.07.2019 • 
Business

Data pertaining to the postretirement health care benefit plan of sterling properties include the following for 2018: ($ in 000s) service cost $ 124 accumulated postretirement benefit obligation, january 1 700 plan assets (fair value), january 1 50 prior service cost–aoci none net gain–aoci (2018 amortization, $1) 91 retiree benefits paid (end of year) 87 contribution to health care benefit fund (end of year) 185 discount rate, 7% return on plan assets (actual and expected), 10% required: 1. determine the postretirement benefit expense for 2018. 2. prepare the appropriate journal entries to record the postretirement benefit expense, funding, and retiree benefits for 2018.

Solved
Show answers

Ask an AI advisor a question

I want advice