Tara-Anderson-Week 5 excel assignment

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

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Unformatted text preview: Tara Anderson 17-43 1 Liability 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. 2 Sick 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 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 5,730 5,020 Adjustment 463.00 Cr. 1540.00 1077.00 (15.00) Dr.Dr....
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This note was uploaded on 05/29/2011 for the course EC 2011 taught by Professor Johnson during the Spring '11 term at FIT.

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

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