Unformatted text preview: factors: o Marital status o Length of pay period o Employee’s taxable wages o Claimed dependents 2. Compensated Absences – paid absences from employments that have been earned. All of the following conditions must exist for there to be an earned compensated absence: a. Employer obligation for services already rendered b. Accumulated or vested rights i. Accumulated – earnings that are not used in one period and carried to the next ii. Vested – earnings that are earned and are due even after employment has been terminated c. Payment of compensation is probable. d. Amount can be reasonably estimated. 3. Bonus Agreements – payment in addition to regular salaries and wages. a. Typically depends on company’s yearly profit b. This is a current liability but also a CONDITIONAL expense...
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- Spring '11
- Accounting, Payroll deductions