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Prepare a worksheet inserting january

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Reference no: EM132470091

Bonita Co. provides the following information about its postretirement benefit plan for the year 2017.

Service cost                                                             $85,500

Prior service cost amortization                                       2,800

Contribution to the plan                                               56,200

Actual and expected return on plan assets                       58,600

Benefits paid                                                               36,700

Plan assets at January 1, 2017                                       702,400

Accumulated postretirement benefit obligation at January 1, 2017  769,700

Accumulated OCI (PSC) at January 1, 2017                           102,000

Dr.Discount rate9%

Question 1: Prepare a worksheet inserting January 1, 2017, balances, showing December 31, 2017, balances, and the journal entry recording postretirement benefit expense. (Enter all amounts as positive.)

Reference no: EM132470091

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