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Vaughn Co. provides the following information about its postretirement benefit plan for the year 2017. Service cost $83,900 Prior service cost amortization 3,100 Contribution to

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

Service cost $83,900
Prior service cost amortization 3,100
Contribution to the plan 51,000
Actual and expected return on plan assets 67,100
Benefits paid 42,700
Plan assets at January 1, 2017 697,300
Accumulated postretirement benefit obligation at January 1, 2017 756,400
Accumulated OCI (PSC) at January 1, 2017 103,300 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.)

VAUGHN CO. Postretirement Benefit Worksheet2017

General Journal Entries

Memo Record

Items

Annual Postretirement Expense

Cash

OCIPrior Service Cost

Postretirement Asset/ Liability

APBO

Plan Assets

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