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MC Qu. 138 Athena Company provides... Athena Company provides employee health Insurance that costs $14.9 per month. In additi
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Answer #1

Solution :- Debit to Employee Benefit Expense $19,370.

Reason :-

Employee benefit are paid to the employee in addition to their normal salary or wages, these benefits are also called perks or perquisites.

Calculation of amount of benefir accrued :-

  • Health insurance $14,900
  • Retirement program cost $149,000 x 3% = $4,470

Total employee benefit Expense to be accrued

= 14,900 + 4,470 = $19,370

As part of journal entry:

A debit will be given to employee benefit expense with $19,370.

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