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1. On January 1, 2011, Medical Transport Company's accumulated postretirement benefit obligation was $25 million. At the end of 2011, retiree benefits paid were $3 million. Service cost for 2011 is $7 million. Assumptions regarding the trend of future health care costs were revised at the end of 2011, causing the actuary to revise downward the estimate of the APBO by $1 million. The actuary's discount rate is 8%. Determine the amount of the accumulated postretirement benefit obligation at December 31, 2011.
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Browse the Internet to acquire a copy of the most recent annual report for a publicly traded company.
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Ruby Ruth Hospital had the following transactions during the year ended December 31, 2012. Prepare journal entries to record these transactions, and state the amount that Ruby Ruth Hospital would report as net patient service revenue in its operat..
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