Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello

تمرين 40

At the end of the current year, Eastern Electric received the following information from its actuarial firm:

The pension plan is fully funded.astern Electric has funded only 40% of the nonpension postretirement benefits this year.
a.repare the journal entry to summarize pension expense for the entire year.
b.repare the journal entry to summarize the nonpension postretirement benefits expense for the entire year.
c.f the company becomes illiquid in future years, what prospects, if any, do today's employees have of receiving the pension benefits that they have earned to date
d.oes the company have an ethical responsibility to fully fund its nonpension postretirement benefits