Regling Company provides its employees vacation benefits and a defined benefit pension plan. Employees earned vacation pay
Question:
Regling Company provides its employees vacation benefits and a defined benefit pension plan. Employees earned vacation pay of $35,000 for the period. The pension formula calculated a pension cost of $201,250. Only $175,000 was contributed to the pension plan administrator. Provide the journal entry for the
(a) Vacation pay
(b) Pension benefit.
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Related Book For
Financial And Managerial Accounting
ISBN: 9781337119207
14th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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