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pharoah Corp. provides the following information about its postretirement health-care benefit plan for the year 2020: Current service cost $203,000 Contribution to the plan 48,100
pharoah Corp. provides the following information about its postretirement health-care benefit plan for the year 2020:
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Assuming Opsco follows ASPE, calculate the post-retirement benefit expense for 2020.
Postretirement benefit expense | $ |
Prepare all required journal entries related to the post-retirement benefit plan that were made by the company in 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Date | Account Titles and Explanation | Debit | Credit |
December 31, 2020 |
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(To record post-retirement benefit expense.) | |||
December 31, 2020 |
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(To record contribution to the pension fund.) |
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