(Postretirement Benefit W orksheet—2 Y ears) Elton Co. has the following postretirement benefit plan balances on January 1, 2014.
Accumulated postretirement benefit obligation $2,250,000
Fair value of plan assets 2,250,000
The interest (settlement) rate applicable to the plan is 10%. On January 1, 2015, the company amends the plan so that prior service costs of $175,000 are created. Other data related to the plan are:
Prior service costs amortization
Contributions (funding) to the plan
Actual return on plan assets
Expected rate of return on assets
(a) P r epa r e a worksheet for the post r eti r ement plan in 2014.
(b) P r epa r e any journal entries r elated to the post r eti r ement plan that would be needed at December 31,
(c ) P r epa r e a workshee t fo r 201 5 an d an y journa l entrie s r elate d t o th e post r eti r emen t pla n a s of
Decembe r 31 , 2015.
(d) Indicate the post r eti r ement-benefit– r elated amounts r eported in the 2015 financial statements.