Question

Fukushima Company provides its employees with vacation benefits and a defined contribution pension plan. Employees earned vacation pay of $19,500 for the period. The pension plan requires a contribution to the plan administrator equal to 6% of employee salaries. Salaries were $260,000 during the period.
Provide the journal entry for the
(a) Vacation pay
(b) Pension benefit.



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  • CreatedFebruary 28, 2014
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