Respuesta :
Answer:
Date Description Debit Credit
Dec 31 Employee Benefit Exp. A/c $14,500
Medical Insurance Payable A/c $5,500
Employee Retiement Payable A/c $9,000
Being th recognition of retirement benefits by Riverrun Co.
Explanation:
The question is to journalize the accrued benefits to be recognized by Riverrun Co payable to its employees on December 31.
A very important key in the question is the accrued benefits hence, we calculate as follows:
First what is the Medical Insurance Benefit accrued $5,500
What is the Employee Retirement Program Accrued $9,000
What is the total employee benefits expense to the company $14,500
Based on these calculations,
We Journalize as follows:
Date Description Debit Credit
Dec 31 Employee Benefit Exp. A/c $14,500
Medical Insurance Payable A/c $5,500
Employee Retiement Payable A/c $9,000
Being th recognition of retirement benefits by Riverrun Co.
