Please do not give image format 3. Compute the closing balances on related SFP accounts at 31 December 20X6. (Round your intermediate and final answers tonearest whole dollar.)Net OPEBAccumulated OCI OPEBS Hruska Corp. provides post-employment benefits to its retirees for dental and supplementary health care. The following informationrelates to these benefits:Benefit obligation, 1 January 20x6Current service cost for 20X6SFP Accrued net OPEB liability, 1 January, 20X6Accumulated OCI, OPEBs, 1 January 20X6, lossFund assets, 1 January 20X6Contributions to the benefit fund for 20X6-paid 1 AprilBenefit payments to retired employees for 2016 evenly over yearActual return on fund assetsYield rate on long-term corporate bondsProjected obligationPlan assets$74, 00018, 50013, 50028, 00060, 5009, 50014, 500600Note: The solution to this question is based on an optional spreadsheet.Required:1. Compute the benefit obligation for post-employment benefits at 31 December 20X6 and plan assets at 31 December 20X6. (Roundyour intermediate and final answers to nearest whole dollar.)OPEB expense6%2. Compute the appropriate expense for post-employment benefits for the year ended 31 December 20X6. (Round your intermediateand final answers to nearest whole dollar.)

Particulars Values Opening benefit obligation $ 74,000.00 Current service cost $ 18,500.00…

Hruska Corp. provides post-employment benefits to its retirees for dental and supplementary health care. The following information relates to these benefits: Benefit obligation, 1 January 20X6 Current service cost for 20X6 SPP Accrued net OPEB liability, 1 January, 20X6 Accumulated OCI, OPEBs, 1 January 20X6, loss Fund assets, 1 January 20X6 Contributions to the benefit fund for 20x6 - paid 1 April Benefit payments to retired employees for 20X6 evenly over year Actual return on fund assets Yield rate on long-term corporate bonds Projected obligation Plan assets $74,000 18,500 13, 500 Note: The solution to this question is based on an optional spreadsheet. Required: 1. Compute the benefit obligation for post-employment benefits at 31 December 20X6 and plan assets at 31 December 20X6. (Round your intermediate and final answers to nearest whole dollar.) 28,000 60, 500 9, 500 14,500 600 OPEB expense 2. Compute the appropriate expense for post-employment benefits for the year ended 31 December 20X6. (Round your intermediate and final answers to nearest whole dollar.)

Hruska Corp. provides post-employment benefits to its retirees for dental and supplementary health care. The following information relates to these benefits: Benefit obligation, 1 January 20X6 Current service cost for 20X6 SPP Accrued net OPEB liability, 1 January, 20X6 Accumulated OCI, OPEBs, 1 January 20X6, loss Fund assets, 1 January 20X6 Contributions to the benefit fund for 20x6 - paid 1 April Benefit payments to retired employees for 20X6 evenly over year Actual return on fund assets Yield rate on long-term corporate bonds Projected obligation Plan assets $74,000 18,500 13, 500 Note: The solution to this question is based on an optional spreadsheet. Required: 1. Compute the benefit obligation for post-employment benefits at 31 December 20X6 and plan assets at 31 December 20X6. (Round your intermediate and final answers to nearest whole dollar.) 28,000 60, 500 9, 500 14,500 600 OPEB expense 2. Compute the appropriate expense for post-employment benefits for the year ended 31 December 20X6. (Round your intermediate and final answers to nearest whole dollar.)

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter19: Accounting For Post Retirement Benefits

Section: Chapter Questions

Problem 3C

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Subject- account
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