Homework Answers
Ans:The correct option for the answer is option B i.e.$127,400
No of employees= 65
Number of vacations days earned by each employee= 10
Total number of vacation days earned by employees in year 2017= $65*10
=650 days
Number of vacations days used by each employee= 0 (mentioned in question)
Total number of vacation days not used during 2017= 650-0 days
=650 days
Therefore company will have to create provision for 650 days
Amount of expense that will be reported on income statement for 2017 - unused vacation* wage per day
= 650 days *(8*24.50)
= 127400
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on January 2, 2016. It employs 8 individuals who work 8-hour days
and are paid hourly. Each employee earns 10 paid vacation days and
8 paid sick days annually. Vacation days may be taken after January
15 of the year following the year in which they are earned. Sick
days may be taken as soon as they are earned; unused sick days
accumulate. Additional information is as follows. Actual Hourly
Wage Rate Vacation Days...
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accumulate. Additional information is as follows. Actual Hourly
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