Employees earn vacation pay at the rate of 1 day per month. During October, 150 employees qualify

Question:

Employees earn vacation pay at the rate of 1 day per month.

During October, 150 employees qualify for one vacation day each. Their average daily wage is $175 per day. What is the amount of vacation benefit expense for October?

a. $26,250

b. $175

c. $2,100

d. $63,875

e. $150 AppendixLO1

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Financial Accounting Information For Decisions

ISBN: 9780073043753

4th Edition

Authors: John J. Wild

See More Books

Question Posted: Jul 19, 2024 10:04 PM

See More Questions

On December 1, Martin Company signed a $4,800, 3-month, 7% note payable, with the principal plus interest due on March 1 of the following year. What amount of interest expense is accrued at December...
Employees earn vacation pay at the rate of one day per month. During the month of July, 19 employees qualify for one vacation day each. Their average daily wage is $94 per day. What is the amount of...
Daffy Duct Inc. declared a small stock dividend and issued 1,000 shares of $1 par value common stock when the price of the stock was $4 each. Identify all appropriate account titles that may be used...
Complete the given table. Number of Days Outstanding Accounts Receivable Estimated % Uncollectible Total Estimated Uncollected Accounts 045 days $ 752,000 2 % $enter a dollar amount 4690 days 255,000...
Visit the AICPAs web site and read the Guide for Complying with Rules 102 505, paragraphs .08 to .18. Study the threats and safeguard approach; then prepare a memo to your professor explaining this...
A retail store does not segregate sales and the amount of sales tax on sales. If the sales tax rate is 11% and the register total amounted to $156,500, what is the amount of the sales taxes owed to...
Assume that Vikki and Tim have been investing since they started working after college. What steps should they have taken before they began investing?
A uniform disk turns at 2.4 rev/s around a frictionless spindle. A non-rotating rod, of the same mass as the disk and length equal to the disks diameter is dropped onto the freely spinning disk, Fig....
8. Marginal cost of capital (MCC) schedule As a company raises more and more funds, the cost of those funds begins to rise. As this occurs, the weighted cost of each new dollar rises. This is called...
What are the three important questions concerning the uncertainty of liabilities? AppendixLO1
A company sells big screen televisions for $3,000 each. Each television has a two-year warranty that covers the replacement of defective parts. It is estimated that 1% of all televisions sold will be...
Evaluate. Assume that all variables represent nonzero real numbers. -8 0
Identify three tips for doing business in the non-U.S. country (Japan) you selected for your project
Write a program in C++ to show the manipulation of a string. Output should show the manipulation of this string : Welcome, student! Create a variable to hold the value of the string. Apply these...
Consider this process for the approval of a home loan for Rocket Mortgage. The demand for loans is higher than the current capacity. The first step is document review and 110 applications per hour...
Suzanne Candor, a cancer registrar, made an appointment to discuss her work schedule with Kerri Lynn Emerson, the cancer registry director. Ms. Candor is nervous about requesting to change her work...
In addition to measuring a firm's achievements of its financial performance goals, how else can you measure the success of a business.
Consider the supersonic flow over an expansion corner, such as given in Fig. 9.20. The deflection angle = 23.38. If the flow upstream of the corner is given by M 1 = 2, P 1 = 0.7atm, T 1 , = 630R,...
Write a declaration for each of the following: a. A line that extends from point (60, 100) to point (30, 90) b. A rectangle that is 20 pixels wide, 100 pixels high, and has its upper-left corner at...
Today, you open a new savings account and plan to begin depositing equal amounts at the beginning of each year for 9 years, including the deposit you make today. There will only be these 9 deposits...
Assume the appropriate discount rate is 8%. What is the value 10 years from today of an annuity that makes payments of $5,000 per year if the first payment is made 11 years from now and the last...
The marginal cost of capital can best be defined as: a. B p = Proportion of total capital/limit b. B p = Limit/proportion of total capital c. B p = WACC/limit d. B p = Limit/WACC

Employees earn vacation pay at the rate of 1 day per month. During October, 150 employees qualify

Question:

Step by Step Answer:

Financial Accounting Information For Decisions

Students also viewed these Business questions