Determine the amount of post-retirement expenses

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Reference no: EM1351865

The following information is related to the Hedge Co. post-retirement ("pension") benefits plan for 2011:

Service Cost $168,000
Discount Rate 10%
EPBO, January 1, 2011 820,000
APBO, January 1, 2011 640,000

Actual return on plan assets in 2011 22,400
Expected return on plan assets in 2011 29,000
Contributions (funding) 224,000

Instructions:

Instructions:

(a) Compute the amount of post-retirement expense for 2011. (Show computations.)
(b) Prepare the journal entry to record post-retirement expense and Hedge's contributions for 2011.

 

Reference no: EM1351865

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