Refer to the 2012 General Electric Retiree Health and Life Benefits disclosure appearing in Exhibit 14.6. Required:
Question:
Required:
1. Reconstruct the journal entries that GE would have made in 2012 to record the effects of its retiree health and life benefits plans.
2. Explain how GE’s health and life benefits plans affected its OCI account for 2012.
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Step by Step Answer:
Requirement 1 1 DR Retiree benefit plans cost 1022 CR Retiree health plans due after one year 1022 To record first three components of expense 2 DR Re...View the full answer
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Related Book For 
Financial Reporting and Analysis
ISBN: 978-0078025679
6th edition
Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon
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