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15 B Corp. has an employee benefit plan for compensated absences that gives each employee 10 paid vacation days and 10 paid sick days. Both
15 B Corp. has an employee benefit plan for compensated absences that gives each employee 10 paid vacation days and 10 paid sick days. Both vacation and sick days can be carried over indefinitely. Employees can elect to receive payment in lieu of vacation days; however, no payment is given for sick days not taken At December 31, 2021, B's unadjusted balance of liability for compensated absences was $52,000. B estimated that there were 280 total vacation days and 140 sick days available at December 31, 2021. B's employees earn an average of $210 per day, in its December 31, 2021, balance sheet, what amount of liability for compensated absences is required to report? 8 56 Multiple Choice PE $168.000 O $109.200 $88.200 $58.800 Summary data for Benedict Construction Co.'s (BCC) Job 1227, which was completed in 2021. are presented below: 18 Bid price Contract cost: 2020 2021 $ 450,000 (180,000) (195,000) 75,000 Gross profit: 01:56:23 Estimated cost to complete: Print 12/31/2020 12/31/2021 $200,000 0 Assuming BCC recognizes revenue over time according to percentage of completion for this contract, the gross profit recognized in 2020 would be (rounded to the nearest thousand) Multiple Choice O $36.000 O $69.000 O $30.000 $33,000 14 Jack Corporation purchased a 22% interest in Jill Corporation for $1,600,000 on January 1, 2021 Jack can significantly influence Jill On December 10, 2021, Jill declared and paid $1.5 million in dividends. Jill reported a net loss of $5.1 million for the year. What amount of loss should Jack report in its income statement for 2021 relative to its investment in Jill? 801564 Multiple Choice Print O $1,500,000 $1,600,000 $1,435.000 $1122.000
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