In its defined contribution plan, Force Company reported a P100,000 balance on its Prepaid Benefit Cost on January 1, 2020. It contributed a total of P1,420,000 during the year. There was a P120,000 balance on the Accrued Benefit Cost as of yearend 2020. How much is the 2020 Employee Benefit Expense?

In its defined contribution plan, Force Company reported a P100,000 balance on its Prepaid Benefit Cost on January 1, 2020. It contributed a total of P1,420,000 during the year. There was a P120,000 balance on the Accrued Benefit Cost as of yearend 2020. How much is the 2020 Employee Benefit Expense?

PAYROLL ACCT.,2019 ED.(LL)-TEXT

19th Edition

ISBN:9781337619783

Author:BIEG

Publisher:BIEG

Chapter5: Unemployment Compensation Taxes

Section: Chapter Questions

Problem 11PA

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