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Exercise 20-23 Coronado Co. provides the following information about its postretirement benefit plan for the year 2017. Service cost $92,700 Prior service cost amortization 3,000

Exercise 20-23
Coronado Co. provides the following information about its postretirement benefit plan for the year 2017.
Service cost $92,700
Prior service cost amortization 3,000
Contribution to the plan 50,600
Actual and expected return on plan assets 64,500
Benefits paid 37,100
Plan assets at January 1, 2017 719,300
Accumulated postretirement benefit obligation at January 1, 2017 745,800
Accumulated OCI (PSC) at January 1, 2017 92,900 DR
Discount rate 8%
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.)
Crane Company
Pension Worksheet - 2017
General Journal Entries Memo Record
Items Annual Postretirement Expense Cash DR/CR OCI Prior Service Cost DR/CR Postretirement Asset/Liability DR/CR APBO DR/CR Plan Assets DR/CR
Balance, Jan. 1, 2017
Service cost
Interst cost
Actual return
Contributions
Benefits
Amorization of PSC
Journal Entry for 2017
Accumulated OCI, Dec. 3, 2016

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