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The information below pertains to the retiree health care plan of Thompson Technologies:Thompson began funding the plan in 2011 with a contribution of $127,000 to the benefit fund at the end of the year. Retirees were paid $52,000. The actuary's discount rate is 5%. There were no changes in actuarial estimates and assumptions.
Required:
Determine the following amounts for 2011:
1. Service cost.2. Postretirement benefit expense.3. Net postretirement benefit liability
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Accounting records of Blocker Transport reveal these transactions and events.
Extend the trial balance to an eight column work sheet like that shown in Table 15-16 and use the work sheet to prepare the following financial statements
on may 1 a companys board of directors declared a 10 stock dividend to be distributed on june 1 to the stockholders of
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