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CHAPTER 19 PENSIONS

Question 9

Wildhorse Corp. provides the following information about its post-retirement health-care benefit plan for the year 2023:

Current service cost		$203,200
Contribution to the plan		47,300
Actual return on plan assets		142,200
Benefits paid		99,000
Plan assets at January 1, 2023		1,596,000
Defined post-retirement benefit obligation at January 1, 2023		1,824,000
Discount rate		9%

(a)

Assuming Wildhorse follows IFRS, calculate the post-retirement benefit expense for 2023.

Post-retirement benefit expense

$enter the post-retirement benefit expense in dollars

Prepare all required journal entries related to the post-retirement benefit plan that were made by the company in 2023. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
December 31, 2023	enter an account title to record post-retirement benefit expense on December 31, 2023	enter a debit amount	enter a credit amount
	enter an account title to record post-retirement benefit expense on December 31, 2023	enter a debit amount	enter a credit amount
	(To record post-retirement benefit expense)
December 31, 2023	enter an account title to record remeasurement loss on December 31, 2023	enter a debit amount	enter a credit amount
	enter an account title to record remeasurement loss on December 31, 2023	enter a debit amount	enter a credit amount
	(To record remeasurement loss)
December 31, 2023	enter an account title to record contribution to the pension fund on December 31, 2023	enter a debit amount	enter a credit amount
	enter an account title to record contribution to the pension fund on December 31, 2023	enter a debit amount	enter a credit amount
	(To record contribution to the benefit plan)

(b)

The parts of this question must be completed in order. This part will be available when you complete the part above.