Tara-Anderson-Week 5 excel assignment

# Tara-Anderson-Week 5 excel assignment - Tara Anderson 17-43...

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Tara Anderson 17-43 1Liability for compensated absences-December 31, 2008 Days Daily Total Employee Accrued Rate Accrued A 22.00 70.00 1540.00 B 15.00 76.00 1140.00 C 0.00 D (10.00) 58.00 (580.00) E 45.00 82.00 3690.00 F 6.00 60.00 360.00 Total accrued \$6,150 *Policy limits days to 15 per year for 3 years. 2Sick and Vacation Pay Payable 5,730 Cash and Withholding Liabilities Sick and Vacation Pay Expense 5,020 Sick and Vacation Pay Payable 17-43 (Continued) COMPUTATIONS: Employee A 20 x \$68 = 1,360.00 13 x \$69 = 897.00 B 15 x \$74 = 1,110.00 15 x \$75 = 1125.00 C 25 x \$62 = 1,550.00 32 x \$64 = 2048.00 D -5 x \$56 = (280.00) 20 x \$57 = 1140.00 E 40 x \$78 = 3,120.00 5 x \$80 = 400.00 F 2 x \$60 = 120.00 HINTS \$6,860 \$5,730 Accrual-Jan. 1, 2008 (Days Daily Rate) Absences Taken in 2008 (Days ´ Avg. Daily Rate) Balance in Liab. Acct. Liab. Acct before Adjustment

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17-56. 1 The correct answer is a. Kane will report pension expense equal to service cost 2 The correct answer is a. Although an employer's obligation for postretirement he

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5,730 5,020 Adjustment 463.00 Cr. 1540.00 1077.00 (15.00) Dr. 1140.00 1155.00 (498.00) Dr. 498.00 (1420.00) Dr. (580.00) 840.00 2720.00 Cr. 3690.00 970.00 (120.00) Dr. 360.00 480.00 \$1,130 Cr. \$6,150 \$5,020 Accural at Dec 31, 2008 [See (1)]

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t of \$19,000 + interest of \$38,000 - the expected return on plan assets of \$22,000 + amortization o ealth benefits is recognized over the period of the employee's active employment, the obligation m

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of unrecognized prior service cost of \$52,000 for a net amount of \$87,000. With

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