Quiz 17.137 – Mallory, Inc.

Intermediate Accounting

Spiceland, Nelson, and Thomas

10th Edition

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Mallory, Inc. reported a net loss of $12 million related to its postretirement benefit plan in its balance sheet on December 31, 2020. If the actuary increased her estimate of future healthcare costs at the end of 2021, what entry will Mallory make to record the effect of this change?

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