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dedylja [7]
3 years ago
12

Athena Company provides employee health insurance that costs $5,000 per month. In addition, the company contributes an amount eq

ual to 5% of the employees' $120,000 gross salary to a retirement program. The entry to record the accrued benefits for the month would include a:
Business
1 answer:
Alchen [17]3 years ago
7 0

Answer:

The answer is given below;

Explanation:

Employee Benefit Expense (5,000+120,000*5%)  Dr.$11,000

Accrued Employee Benefits payable                                     Cr.$11,000

As these are the costs that company has to pay for employee retirement and health plans, therefore increase in these expenses will be recorded with corresponding effect to payable.

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