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 $40,000 for the period. The pension formula calculated a pension cost of $222,750. Only $185,000 was contributed to the pension plan administrator. Journalize the entry to record the
(a) Vacation pay and
(b) Pension benefit.
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Related Book For
Corporate Financial Accounting
ISBN: 9781337398169
15th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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