Final answer:
The employee's total benefits responsibility would be $408.75. The journal entry representing the payroll benefits accumulation for the employer in the month of February would include debiting the Pension Plan Contribution Expense account with $900 and crediting the Pension Plan Liability account with $900, as well as debiting the Health Insurance Expense account with $375 and crediting the Health Insurance Liability account with $375.
Step-by-step explanation:
In order to determine the employee's total benefits responsibility, we need to calculate the employee's portion of the pension plan contribution and health insurance premium. If the total pension contribution is $900 and the employee covers 35%, then the employee's portion is 35% of $900, which is $315. Similarly, if the health insurance premium is $375 and the employee covers 25%, then the employee's portion is 25% of $375, which is $93.75. Therefore, the employee's total benefits responsibility would be $315 + $93.75 = $408.75.
The journal entry representing the payroll benefits accumulation for the employer in the month of February would include debiting the Pension Plan Contribution Expense account with $900 and crediting the Pension Plan Liability account with $900. This represents the employer's portion of the pension plan contribution. Similarly, the journal entry would also include debiting the Health Insurance Expense account with $375 and crediting the Health Insurance Liability account with $375. This represents the employer's portion of the health insurance premium.