Reference no: EM132995841
Problem - Marigold Co. provides the following information about its postretirement benefit plan for the year 2020.
Service cost $91,700
Prior service cost amortization 3,200
Contribution to the plan 59,100
Actual and expected return on plan assets 65,100
Benefits paid 42,800
Plan assets at January 1, 2020 703,900
Accumulated postretirement benefit obligation at January 1, 2020 766,800
Accumulated OCI (PSC) at January 1, 2020 107,300 Dr.
Discount rate 9%
Required - Compute the postretirement benefit expense for 2020.
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