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Calculate the post-retirement benefit expense

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Reference no: EM133138463

Question - Carla Vista Corp. provides the following information about its post-retirement health-care benefit plan for the year 2020:

Current service cost $204,500

Contribution to the plan 47,550

Actual return on plan assets 141,800

Benefits paid 88,000

Plan assets at January 1, 2020

1,598,400

Defined post-retirement benefit obligation at January 1, 2020 1,823,900

Discount rate 11%

Assuming Opsco follows IFRS, calculate the post-retirement benefit expense for 2020.

Create all required journal entries related to the post-retirement benefit plan that were made by the company in 2020.

Assuming Opsco follows ASPE, calculate the post-retirement benefit expense for 2020.

Create all required journal entries related to the post-retirement benefit plan that were made by the company in 2020.

Reference no: EM133138463

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