Cerner Company has two fringe benefit plans for its employees: 1. It grants employees 2 days vacation
Question:
Cerner Company has two fringe benefit plans for its employees:
1. It grants employees 2 days’ vacation for each month worked. Ten employees worked the entire month of March at an average daily wage of $120 per employee.
2. In its pension plan the company recognizes 10% of gross earnings as a pension expense. Gross earnings in March were $40,000. No contribution has been made to the pension fund.
Instructions
Prepare the adjusting entries at March 31.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Question Posted: