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Determine davidians postretirement benefit expense for the

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Reference no: EM13486120

Davidian Enterprises had the following data pertaining to it's health care beneift plan for the current calendar year:

Service Cost $150,000
APBO, Jan 1 $800,000
Plan Assets, Fair Value $80,000
Prior Service Cost (current year amortizaion, $2,000) $90,000
Retiree Benefits Paid (end of year) $90,000
Net Gain (Current year amortization, $1,000) $92,000
Contribution to health care fund (end of year) $85,000
Return on Plan Assets (actual and expected) 10%
Discount Rate 8%

Determine Davidian's postretirement benefit expense for the current year and prepare the journal entries to record the benefit expense and funding for the current year.

Reference no: EM13486120

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