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MAXImum [283]
2 years ago
9

65 employees have earned two weeks of vacation time to be taken the following year. If the average weekly salary for these emplo

yees is $900, what is the required journal entry to accrue compensated absences
Business
1 answer:
Komok [63]2 years ago
4 0

Answer: Debit Salaries and Wages Expense $117000

Credit Salaries and Wages Payable $117000

Explanation:

Based on the information given in the question, the required journal entry to accrue compensated absences will be as follows:

First, we need to know the amount of the compensated absence which will be:

= 65 employees × $900 × 2 Weeks vacation

= $117000

Therefore, the journal entry is:

Debit Salaries and Wages Expense $117000

Credit Salaries and Wages Payable $117000

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Explanation:

Government has every right to make policies that would strictly affect price, if this is not done and there is inflation of price it would lead to recession.

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