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The amount of employee benefits expense for the current period is
$12,500
Step-by-step explanation:
Belkin Co. provides medical care and insurance benefits to its retirees.
In the current year, Belkin agrees to contribute 5% of the employees’
$250,000 gross salaries to a retirement program
We need to find the amount of employee benefits expense for the
current period
To solve the problem
- Find the percentage of the benefits
- Multiply the percentage of benefits by the gross salary
- The answer is the amount of employee benefits expense for the current period
∵ The benefits for the current year is 5%
∵ These benefits for the gross salaries of $250,000
∴ The amount of benefits = 5% × 250,000
∵ 5% = = 0.05
∴ The amount of benefits = 0.05 × 250,000
∴ The amount of benefits = $12,500
The amount of employee benefits expense for the current period is
$12,500
Learn more:
You can learn more about percentage in brainly.com/question/12284722
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