Fukushima Company provides its employees with vacation benefits and a defined contribution pension plan. Employees earned vacation

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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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Corporate Financial Accounting

ISBN: 978-1133952411

12th edition

Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac

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