DTI has a profit sharing plan. After a call to the pension company, you learn...
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Accounting
DTI has a profit sharing plan. After a call to the pension company, you learn the amount of the retirement plan contribution for 2021 is $195,502. The pension is deductible in 2021, but most of it will be funded by the company in 2022. DTI has recorded an estimate of this expense and paid a small part of it during the year, but you must adjust the expense to the correct amount. The adjusting journal entry will be sent to DTI for it to record.
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You can see the logs in the Dashboard.