Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 08 May 2018 My Price 5.00

amounts of vacation

Ex 10-16  Accrued vacation pay                                                                        ObJ. 4

A business provides its employees with varying amounts of vacation per year, depending on the length of employment. The estimated amount of the current year’s vacation pay    is

$42,000.

a.     Journalize the adjusting entry required on January 31, the end of the first month of the current year, to record the accrued vacation pay.

b.    How is the vacation pay reported on the company’s balance sheet? When is this amount removed from the company’s balance sheet?

 

Answers

Maurice Tutor
(5)
Status NEW Posted 08 May 2018 03:05 PM My Price 5.00

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