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Art Parrish is the sole employee of Parrish Sales.His company pays a portion of his health insurance premium,and also contributes to a retirement plan in his name.The company share of the health insurance premium is $400,and the company contribution to the retirement plan is $550.The third journal entry in the payroll cycle to record the employee benefits to be paid by the company should include a credit to Employee benefits payable for $950.
Competitive Wages
Compensation or salary levels that are attractive enough to retain and recruit employees, often in line with or above averages within the industry or region.
Increased Work
A situation where the volume or intensity of tasks and responsibilities assigned to an individual or team grows.
Training
Provides learning opportunities to acquire and improve job-related skills.
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