12:53 PM OO HOME LTE 38% blackboard.kean edu S11-10 Journalizing vacation benefits Learning objective 3 Roy Industries has eight employees. Each employee earns two vacation days a month. Roy pays each employee a weekly salary of SI,000 for a five-day workweek. Requirements 1.Determine the amount of vacation expense for one month. 2. Journalize the entry to accrue the vacation expense for the month E11-24 Computing times-interest-earned ratio Learning objective 5 The following financial information was obtained from the year ended 2016 income statements for Jameson Automotive and Bauer Automotive: Requirements 1.Compute the times-interest-earned ratio for each company. 2.Which company was better able to cover its interest expense? Review of payroll Review of payroll Computing and recording gross and net pay Learning objective 2 John Wade works for Campus Company. His straight-time pay is S10 per hour, with time-and-a-half for hours in excess of 40 per week. Wade's payroll deductions include withheld income tax of 20%, FICA tax, and a weekly deduction of S8 for life insurance. Wade worked 56 hours during the week. In addition to wages the company provides the following benefits for Wade: health insurance, S20 weekly and retirement benefits, 6% of wages Requirements I. Compute Wade's gross pay and net pay for the week. Assume earnings to date are S6,500. 2. Joumalize Campus Company's wages expense accrual for Wade's work. An explanation is not required. 3. Joumalize the Campus Company employer's payroll tax expense and benefits. 4. Journalize the subsequent payment of wages to Wade