An Employer Has an Employee Benefit Package That Includes Employer-Paid

question 195

Essay

An employer has an employee benefit package that includes employer-paid health insurance and employer-paid retirement program.During January,the employer-paid health insurance equaled $7,500 and the amount the employer agreed to contribute to the employee retirement program an amount equal to 10% of the employees' $150,000 gross salaries.Prepare the general journal entry to record these employee benefits.

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Definitions:

DC Electrical Energy

Energy supplied by a direct current (DC) source, characterized by the uni-directional flow of electric charge.

Series Field

An electromagnetic field created by windings in a series circuit within a motor or generator, contributing to the device's overall magnetic field.

Armature

The rotating member of a motor or generator. The armature generally contains windings and a commutator.

Frogleg-wound

A winding pattern used in some electric motors or generators, characterized by its leg-like divisions for improved performance.