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Vacation pay and pension benefits Regling Company provides its employees vacation benefits and a defined...

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Accounting

Vacation pay and pension benefits

Regling Company provides its employees vacation benefits and a defined benefit pension plan. Employees earned vacation pay of $17,500 for the period. The pension formula determined a pension cost of $269,000. Only $16,140 was contributed to the pension plan administrator.

Question Content Area

a. Journalize the entry to record the vacation pay. If an amount box does not require an entry, leave it blank.

blank Account Debit Credit
blank CashSalaries ExpenseSalaries PayableVacation Pay ExpenseVacation Pay Payable
CashSalaries ExpenseSalaries PayableVacation Pay ExpenseVacation Pay Payable

Question Content Area

b. Journalize the entry to record the pension benefit. If an amount box does not require an entry, leave it blank.

blank Account Debit Credit
blank Accounts PayableCashPension ExpenseSalaries ExpenseUnfunded Pension Liability
CashPension ExpenseSalaries ExpenseSalaries PayableUnfunded Pension Liability
CashPension ExpenseSalaries ExpenseSalaries PayableUnfunded Pension Liability
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