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aleksley [76]
3 years ago
10

Regling Company provides its employees vacation benefits and a defined benefit pension plan. Employees earned vacation pay of $4

0,000 for the period. The pension formula calculated a pension cost of $222,750. Only $185,000 was contributed to the pension plan administrator.
Required:
Journalize the entry to record the:

a. vacation pay
b. pension benefit.
Business
1 answer:
Leto [7]3 years ago
8 0

Answer:

A.

Dr Vacation pay expenses $40,000

Cr Vacation pay payable $40,000

B.

Dr Pension expenses $222,750

Cr Cash $185,000

Cr Unfunded pension liability $37,750

Explanation:

Regling Company Journal entries

A.

Dr Vacation pay expenses $40,000

Cr Vacation pay payable $40,000

B.

Dr Pension expenses $222,750

Cr Cash $185,000

Cr Unfunded Pension liability $37,750

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Answer:

$1,574,000

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On January 1, 2018, Nath-Langstrom Services, Inc., a computer software training firm, leased several computers under a two-year
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Answer:

Answer to the question :

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is explained in the attachment.

Explanation:

Download pdf
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3 years ago
A bank asks customers to evaluate the drive-thru service as good, average, or poor. Which level of measurement is this classific
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Answer:

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