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What is the apbo at the beginning of the year

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Reference no: EM13847453

The following data are available pertaining to Firewall Corporation's retiree health plan for 2013:

Number of employees covered

4

Years employed as of January 1, 2013 5 (each)

5 (each)

Attribution period

20 years

EPBO, January 1

$100,000

EPBO, December 31

$106,000

Interest rate

6%

Funding

none

Required:

1) What is the APBO at the beginning of 2013?

2) What is the interest cost for 2013?

3) What is service cost for 2013?

4) Prepare the journal entry to record the postretirement benefit expense for 2013.

Reference no: EM13847453

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