Intermediate Accounting (2nd Edition)
Intermediate Accounting (2nd Edition)
2nd Edition
ISBN: 9780134730370
Author: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
Publisher: PEARSON
Question
Book Icon
Chapter 13, Problem 13.8BE
To determine

To prepare: Journal entries for wage expense and compensated absences.

Given information:

Employees get 10 days each of paid sick leaves.

20 employees took all 10 days.

5 employees did not take any days.

Current wage rate is $200 per day.

Blurred answer
Students have asked these similar questions
Issue:  Huche Company allows its employees to carry over unused personal time off (PTO) days (vacation, sick days, etc.) from year to year. In addition, employees have the option to “cash out” their unused days at the end of the year.  John Keevens was just paid $685 for his unused PTO days. Since he is a nonexempt employee, John has questioned the amount of his last paycheck (which includes the $685). The PTO days push the paid hours over 40, and he wants to be paid for his overtime hours.   Question to be Answered:   What would you tell John in regards to his request for overtime pay on his PTO hours?
On January 1, 20x6, Bernie Bird Co. decided to grant its employees 10 vacation days and five sick days each year. Vacation days earned can be carried over to the next year but not sick days. Each employee took an average of three sick days in 20x6. During 20x6, each Bernie Bird’s six employees earned P100 per day and earned 10 vacation days. These vacation days were taken during 20x7. What amount should Bernie report for compensation absence expense for the year ended December 31, 20x6?   a.0 b.6000 c.7,800 d.9,000
A company grants employees 8 sick days per year. Sick days may be used as soon as they are earned and unused days may be carried over to the following year. Sick time is paid at the rate in effect when the days are taken, but are accrued at the rate in effect when they are earned. The following information pertains to the 20 employees of the company, who each work 8-hour days: Year Pay rate Sick days earned/employee Sick days taken/per employee 2020 $15.00 8 5 2021 17.00 8 7 a. Prepare the journal entry to record the sick pay earned in 2020. b. Prepare the journal entry to record sick days taken in 2020. c. Determine the liability for sick pay that the company would report on 12/31/20. d. Prepare the journal entry to record the sick pay earned in 2021. e. Prepare the journal entry to record sick days taken in 2021. f. Determine the liability for sick pay that the company would report on 12/31/21..

Chapter 13 Solutions

Intermediate Accounting (2nd Edition)

Ch. 13 - Prob. 13.11QCh. 13 - Prob. 13.12QCh. 13 - Prob. 13.13QCh. 13 - Prob. 13.14QCh. 13 - Prob. 13.15QCh. 13 - Prob. 13.16QCh. 13 - Prob. 13.1MCCh. 13 - Prob. 13.2MCCh. 13 - Prob. 13.3MCCh. 13 - Medical Services Inc allows employees at the end...Ch. 13 - Trade Notes Payables. On February 1, Seville...Ch. 13 - Unearned Revenues. On June 1 of the current year,...Ch. 13 - Unearned Revenues. GoSnow Inc. provides snow...Ch. 13 - Prob. 13.4BECh. 13 - Prob. 13.5BECh. 13 - Prob. 13.6BECh. 13 - Sales Taxes Payable. Kloth Fabric Store operates...Ch. 13 - Prob. 13.8BECh. 13 - Prob. 13.9BECh. 13 - Prob. 13.10BECh. 13 - Asset Retirement Obligation at Acquisition. On...Ch. 13 - Prob. 13.12BECh. 13 - Asset Retirement Obligation, Disposal. Buckner...Ch. 13 - Prob. 13.14BECh. 13 - Prob. 13.15BECh. 13 - Prob. 13.16BECh. 13 - Prob. 13.17BECh. 13 - Warranty Liability, Assurance-Type Warranty,...Ch. 13 - Prob. 13.19BECh. 13 - Prob. 13.20BECh. 13 - Trade Notes Payable. On November 1, Barcelona...Ch. 13 - Unearned Revenues. On May 1 of the current year,...Ch. 13 - Gift Cards. Diamond Depot sold 57,000 of gift...Ch. 13 - Sales Taxes Payable. Eaton Technology operates...Ch. 13 - Prob. 13.5ECh. 13 - Asset Retirement Obligation. On January 1,...Ch. 13 - Prob. 13.7ECh. 13 - Prob. 13.8ECh. 13 - Prob. 13.9ECh. 13 - Prob. 13.10ECh. 13 - Prob. 13.11ECh. 13 - Accounting for Premiums. Supergreen Grocers, Inc....Ch. 13 - Prob. 13.13ECh. 13 - Payroll Taxes Payable, Pay Exceeds. Wage Base....Ch. 13 - Current Operating Liabilities. James Stores, Inc....Ch. 13 - Prob. 13.2PCh. 13 - Prob. 13.3PCh. 13 - Prob. 13.4PCh. 13 - Prob. 13.5PCh. 13 - Prob. 13.6PCh. 13 - Prob. 13.7PCh. 13 - Payroll Taxes Payable. Jackson Corporation employs...Ch. 13 - Prob. 1JCCh. 13 - Prob. 2JCCh. 13 - Prob. 3JCCh. 13 - Financial Statement Analysis Case You are...Ch. 13 - Surfing the Standards Case 1: Environmental...Ch. 13 - Prob. 2SSCCh. 13 - Prob. 1BCC
Knowledge Booster
Background pattern image
Similar questions
Recommended textbooks for you
Text book image
College Accounting (Book Only): A Career Approach
Accounting
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:South-Western College Pub
Text book image
College Accounting (Book Only): A Career Approach
Accounting
ISBN:9781305084087
Author:Cathy J. Scott
Publisher:Cengage Learning
Text book image
PAYROLL ACCT., 2019 ED.(LL)-TEXT
Accounting
ISBN:9781337619783
Author:BIEG
Publisher:CENGAGE L
Text book image
CONCEPTS IN FED.TAX., 2020-W/ACCESS
Accounting
ISBN:9780357110362
Author:Murphy
Publisher:CENGAGE L
Text book image
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:Cengage Learning
Text book image
SWFT Comprehensive Volume 2019
Accounting
ISBN:9780357233306
Author:Maloney
Publisher:Cengage