ACC304Week_8Chapter_15HW

ACC304Week_8Chapter_15HW - EXERCISE 15-1 (25-30 minutes)...

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EXERCISE 15-1 (25-30 minutes) (a) To accrue the expense and liability To record payment for compensated Year for compensated absences: time when used by employees: 2003 Wages Expense 11,520 Sick Pay Wages Vacation Wages Payable 2,880(3) Payable 7,200(1) Cash 2,880 Sick Pay Wages Payable 4,320(2) 2004 Wages Expense 12,672 Wages Expense 792 Vacation Wages Vacation Wages Payable 7,920 (4) Payable 6,480(6) Sick Pay Wages Sick Pay Wages Payable 4,752 (5) 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 (7) 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 (8) 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 =
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ACC304Week_8Chapter_15HW - EXERCISE 15-1 (25-30 minutes)...

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