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

question 114

Essay

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

---

Definitions:

Illness Anxiety Disorder

A disorder characterized by excessive worry about having or acquiring a serious illness despite medical reassurance and a lack of significant physical symptoms.

Overconcern

Overconcern denotes an excessive preoccupation or worry about a particular issue or set of issues that might be perceived as disproportionate to their actual significance.

Serious Disease

A health condition that poses a substantial risk to an individual's life or long-term health.