Using the information in E20.19, prepare a worksheet inserting January 1, 2019, balances, showing December 31, 2019,
Question:
Using the information in E20.19, prepare a worksheet inserting January 1, 2019, balances, showing December 31, 2019, balances, and the journal entry recording postretirement benefit expense.
Service cost................................................................................................€ 90,000
Contribution to the plan.............................................................................56,000
Actual return on plan assets......................................................................62,000
Benefits paid................................................................................................40,000
Plan assets at January 1, 2019.................................................................710,000
Defined postretirement benefit obligation at January 1, 2019...........760,000
Accumulated OCI (Loss) at January 1, 2019.............................................100 Dr.
Discount (interest) rate.....................................................................................9%
Step by Step Answer:
ENGLEHART AG Postretirement Benefit Worksheet2019 General Journal ...View the full answer
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
