Refer to the 2014 General Electric Retiree Health and Life Benefits disclosure appearing in Exhibit 14.6.

Required:
1. Reconstruct the journal entries that GE would have made in 2014 to record the effects of its retiree health and life benefits plans. As was the case for the GE pension plan, the curtailment loss represents faster amortization of prior service costs.
2. Show how GE's health and life benefits plans affected its AOCI account for 2014.

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($ in millions) APBO at December 31, 2014 Service and interest cost in 2014 1% increase 1% decrease $977 56 $(810) (47) Schedule 4: Fair Value of Plan Assets ($ in millions) 2014 Balance at January 1 Actual gain on plan assets Employer contributions Participant contributions Benefits paid 2013 $946 118 533 52 704) $903 $903 518 52 (704) $813 Balance at December 31 Schedule 5: Retiree Benefit Asset (Liability) December 31 ($ in millions) Funded status Liability recorded in the Statement of Financial Position Retiree health plans 2014 2013 $(9,890) $9,010) Due within one year Due after one year Retiree life plans $ (518) (7,927) (1,445) $9,890) $(531) (7,095) (1,384) $(9,010) Net liability recognized Amounts recorded in shareowners' equity (unamortized) Prior service cost Net actuarial loss $ (24) (71) $ (95) $ 963 (1,667) $(704) Total