Data pertaining to the postretirement health care benefit, Ask an Expert

Accounting

Data pertaining to the postretirement health care benefit plan of Sterling Properties include the following for 2013:

	($ in 000s)
Service cost	$	134
Accumulated postretirement benefit obligation, January 1		600
Plan assets (fair value), January 1		110
Prior service cost-AOCI		none
Net gain-AOCI (2013 amortization, $1)		99
Retiree benefits paid (end of year)		87
Contribution to health care benefit fund (end of year)		195
Discount rate, 7%
Return on plan assets (actual and expected), 10%

Required:

1.	Determine the postretirement benefit expense for 2013. (Enter your answer in thousands.)

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9800262

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