Homework Answers
| Date | General Journal | Debit | Credit |
| December 31, 2016 | Wages expense | 18000 | |
| Wages payable | 18000 | ||
| (To accrue the expense and liability for sick pay) |
Working:
Total sick leave entitlement for 2016 = 100 employees x 5 days = 500 days
Sick leave taken during 2016 = 300 days
Unused sick leave at December 31, 2016 = 500 - 300 = 200 days
Estimated sick leave that will be taken during 2017 = 60% x 200 = 120 days
Sick leave liability at December 31, 2016 = 120 days x $150 = $18000
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Exercise 13-3 Sage Company began operations
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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
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Exercise 13-3
Shamrock Company began operations on January 2, 2016. It employs 9
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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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individuals who work 8-hour days and are paid hourly. Each employee
earns 9 paid vacation days and 6 paid sick days annually. Vacation
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are earned; unused sick days accumulate. Additional information is
as follows.
Actual Hourly
Wage Rate
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