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  • Post-Employment Benefits - ABC-Moon Company

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    Kageyama Hinata
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    ABC Company's employee benefits expense for 2022 was $200,000 which was paid in cash. For 2023, employee benefits expense increased to $210,000 which was also paid in cash. Moon Company's employee benefits expense for 2022 was $300,000 which was recorded as an accrued liability. In 2023, Moon Company paid the $300,000 accrued benefits payable in cash.

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    Post-employment Benefits - ABC-Moon Company

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    ABC Company's employee benefits expense for 2022 was $200,000 which was paid in cash. For 2023, employee benefits expense increased to $210,000 which was also paid in cash. Moon Company's employee benefits expense for 2022 was $300,000 which was recorded as an accrued liability. In 2023, Moon Company paid the $300,000 accrued benefits payable in cash.

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    7 views1 page

    Post-Employment Benefits - ABC-Moon Company

    Uploaded by

    Kageyama Hinata
    ABC Company's employee benefits expense for 2022 was $200,000 which was paid in cash. For 2023, employee benefits expense increased to $210,000 which was also paid in cash. Moon Company's employee benefits expense for 2022 was $300,000 which was recorded as an accrued liability. In 2023, Moon Company paid the $300,000 accrued benefits payable in cash.

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    Problem 17-1: ABC Company

    2022
    Employee Benefits Expense 200,000
    Cash(4,000,000*5%) 200,000

    2023
    Employee Benefit Expense 210,000
    Cash(4,200,000*5%) 210,000

    Problem 17-3: Moon Company

    December 31, 2022


    Employee Benefit Expense 300,000
    Accrued Benefit Payable 300,000

    February 15, 2023


    Accrued Benefit Payable 300,000
    Cash 300,000

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