The accounting staff of Holder Inc. has prepared the following post-retirement benefit worksheet. Unfortunately, several entries in the worksheet are not decipherable. The company has asked your assistance in completing the worksheet and completing the accounting tasks related to the pension plan for 2020.

Instructions

a. Determine the missing amounts in the 2020 post-retirement worksheet, indicating whether the amounts are debits or credits.

b. Prepare the journal entry to record 2020 post-retirement expense for Holder Inc.

c. What discount rate is Holder using in accounting for the interest on its other post-retirement benefit plan? Explain.

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Postretirement Benefit Worksheet-Holder Inc. Page Layout Formulas Data Home Insert Review View fx P18 A B G General Journal Entries Memo Record Other Comprehensive Postretirement Income PSC Asset/Liability Annual 4. Cash Plan Assets Items APBO Expense 6 Balance, Jan. 1, 2020 7 Service cost 8 Interest cost 9 Actual/Expected return 10 Contributions 11 Benefits 410,000 120,000 290,000 (1) 56,000 (2) 36,900 (3) 2,000 (4) 66,000 5,000 5,000 12 Amortization of PSC (5) (8) 3,000 Journal entry for 2020 (6) (7) (9) 13 14 15 Accumulated OCI, Dec. 31, 2019 16 Balance, Dec. 31, 2020 30,000 Dr. 497,900 Cr. 183,000 Dr. 27,000 Dr. 314,900 Cr. 17