Final-CH20-PR10.Final - 44,000 Cr. Journal entry, Dec. 31...

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*PROBLEM 20-10 20-62 (a) Dusty Hass Foods Inc. Postretirement Benefits Worksheet—2008 General Journal Entries Memo Record Items Net Periodic Postretirement Cost Cash Prepaid/ Accrued Cost Accumulated Postretire-ment Benefit Obliga- tion Plan Assets Unrecognized Net Gain or Loss Balance, Jan. 1, 2008 200,000 Cr. 200,000 Dr. (a) Service cost 70,000 Dr. 70,000 Cr. (b) Interest cost 18,000 Dr.* 18,000 Cr. (c) Actual return 15,000 Cr. 15,000 Dr. (d) Unexpected gain 6,000 Dr.** 6,000 Cr. (e) Contributions 60,000 Cr. 60,000 Dr. (f) Benefits 44,000 Dr.
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Unformatted text preview: 44,000 Cr. Journal entry, Dec. 31 79,000 Dr. 60,000 Cr. 19,000 Cr. 19,000 Cr. 244,000 Cr. 231,000 Dr. 6,000 Cr. ** *$200,000 X .09 = $18,000 * **$15,000 $9,000 = $6,000 (b) Reconciliation ScheduleDecember 31, 2008 Accumulated postretirement benefit obligation (Credit) $(244,000) Plan assets at fair value (Debit) 231,000 Funded status (Credit) (13,000) Unrecognized net gain or loss (Credit) (6,000 ) Prepaid/accrued postretirement benefit cost $ (19,000 )...
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This note was uploaded on 04/13/2008 for the course ACCOUNTING BUS4062 taught by Professor Daniels during the Spring '08 term at Capital University.

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