Blue Co. provides the following information about its postretirement benefit plan for the year 2017.
Service cost
$85,800
Prior service cost amortization
2,700
Contribution to the plan
58,600
Actual and expected return on plan assets
57,800
Benefits paid
39,200
Plan assets at January 1, 2017
715,100
Accumulated postretirement benefit obligation at January 1, 2017
754,600
Accumulated OCI (PSC) at January 1, 2017
103,200 Dr.
Discount rate
9%
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.)
Postretirement Benefit Worksheet-2017
BLUE CO.
General Journal Entries
Memo Record
Annual
Postretireme
Items
nt
Expense
$
Cash
$
OCI - Prior
Service Cost
$
Postretireme
nt Asset/
Liability
$
APBO
$
Plan Assets
$
Balance,
Jan. 1,
2017
Service
cost
Interest
cost
Actual
return
Contribu
tions
Benefits
Amortiza
tion of
PSC
Journal
entry for
2017
Accumul
ated
OCI,
Dec. 31,
2016