Using the information in E20.16, prepare a worksheet inserting January 1, 2019, balances, and showing December 31, 2019, balances. Prepare the journal entry recording postretirement benefit expense.
Service cost........................................................Russian Rubble 45,000
Contribution to the plan...............................................................10,000
Actual return on plan assets (at 8%)................................................8,800
Benefits paid...............................................................................20,000
Plan assets at January 1, 2019...................................................110,000
Defined postretirement benefit obligation at January 1, 2019...............330,000
Discount (interest) rate.....................................................................8%