Vacation pay and pension benefits OBJ. 4 Regling Company provides its employees vacation benefits and a defined
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Vacation pay and pension benefits OBJ. 4 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 and
(b) pension benefit.
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Related Book For
Financial And Managerial Accounting
ISBN: 9781305267831,9781305267848
13th Edition
Authors: Carl S. Warren , James M. Reeve , Jonathan Duchac
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