ACT_3392_Homework_Solutions

ACT_3392_Homework_Solutions - Intermediate Accounting II...

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Intermediate Accounting II Amanda N. Paul, CPA, MBA Troy University
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Chapter 13 EXERCISE 13-5 (a) 2006 To accrue expense and liability for compensated absences Wages Expense 11,520 Vacation Wages Payable 7,200 (1) Sick Pay Wages Payable 4,320 (2) To record payment for compensated time when used by employees Sick Pay Wages Payable 2,880 (3) Cash 2,880 2007 To accrue expense and liability for compensated absences Wages Expense 12,672 Vacation Wages Payable 7,920 (4) Sick Pay Wages Payable 4,752 (5)
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EXERCISE 13-5 continued To record payment for compensated time when used by employers Wages Expense 792 Vacation Wages Payable 6,480 (6) Sick Pay Wages Payable 3,816 (7) Cash 11,088 (8) (1) 9 employees X $10.00/hr. X 8 hrs./day X 10 days = $7,200 (2) 9 employees X $10.00/hr. X 8 hrs./day X 6 days = $4,320 (3) 9 employees X $10.00/hr. X 8 hrs./day X 4 days = $2,880 (4) 9 employees X $11.00/hr. X 8 hrs./day X 10 days = $7,920 (5) 9 employees X $11.00/hr. X 8 hrs./day X 6 days = $4,752 (6) 9 employees X $10.00/hr. X 8 hrs./day X 9 days = $6,480 (1) 9 employees X $10.00/hr. X 8 hrs./day X (6–4) days =$1,440 9 employees X $11.00/hr. X 8 hrs./day X (5–2) days = +2,376 = $3,816 (1) 9 employees X $11.00/hr. X 8 hrs./day X 9 days = $7,128 9 employees X $11.00/hr. X 8 hrs./day X 5 days = +3,960
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This note was uploaded on 04/07/2009 for the course ACT 3392 taught by Professor Paul during the Spring '08 term at Troy.

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ACT_3392_Homework_Solutions - Intermediate Accounting II...

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