Chapter 11, Problem 14E

a

To determine

Concept Introduction: Bonuses are offered to employees by their employer, generally bonuses depend on the net income of an employee. Year-end adjustments for bonuses are recorded by debiting bonuses paid to the bonus expenses account and credited to bonuses payable. The entry to record bonuses due to the employees.

b

To determine

Concept Introduction: Bonuses are offered to employees by their employer, generally bonuses depend on the net income of an employee. Year-end adjustments for bonuses are recorded by debiting bonuses paid to the bonus expenses account and credited to bonuses payable.

The entry to record payment of bonuses to the employees.