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Compute the amount of postretirement expense

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Reference no: EM132008426

Question - The following information is related to the Stone Co. postretirement benefits plan for 2015:

Service cost $163,000

Discount rate 10%

EPBO, January 1, 2015 820,000

APBO, January 1, 2015 660,000

Actual return on plan assets in 2015 22,400

Expected return on plan assets in 2015 29,000

Contributions (funding) 224,000

Instructions:

A) Compute the amount of postretirement expense for 2015. (Show computations)

B) Prepare the journal entry to record postretirement expense and Stone's contributions for 2015.

Reference no: EM132008426

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