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Bonita Co. provides the following information about its postretirement benefit plan for the year 2017. Service...

Bonita Co. provides the following information about its postretirement benefit plan for the year 2017.

Service cost $85,500
Prior service cost amortization 2,800
Contribution to the plan 56,200
Actual and expected return on plan assets 58,600
Benefits paid 36,700
Plan assets at January 1, 2017 702,400
Accumulated postretirement benefit obligation at January 1, 2017 769,700
Accumulated OCI (PSC) at January 1, 2017 102,000 Dr.
Discount rate 9 %


Prepare a worksheet inserting January 1, 2017, balances, showing December 31, 2017, balances, and the journal entry recording postretirement benefit expense. (Enter all amounts as positive.)

BONITA CO.
Postretirement Benefit Worksheet—2017

General Journal Entries

Memo Record

Items

Annual Postretirement
Expense

Cash

OCI—Prior
Service Cost

Postretirement Asset/
Liability

APBO

Plan Assets

Solutions

Expert Solution

ekkarill92 answered 2 years ago
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