Regling Company provides its employees vacation benefits and a defined benefit pension plan. Employees earned vacation pay
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Regling Company provides its employees vacation benefits and a defined benefit pension plan. Employees earned vacation pay of $25,000 for the period. The pension formula determined a pension cost of $139,250. Only $105,000 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
Financial And Managerial Accounting
ISBN: 9780357714041
16th Edition
Authors: Carl S. Warren, Jefferson P. Jones, William Tayler
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