Cash 2944 (To record sick leave paid) List of Accounts - Your answer is partially correct. Compute the amounts of any liability for compensated absences that should be reported on the balance sheet at December 31, 2019 and 2020. 2019 2020 Vacation Wages Payable $ 4032 960 Sick Pay Wages Payable $ 896 LA 512 List of Accounts Save for Later Attempts: 1 of 3 used Submit Answer CUICULALLPLWL051JJ Skysong Company began operations on January 2, 2019. It employs 8 individuals who work 8-hour days and are paid hourly. Each employee earns 9 paid vacation days and 7 paid sick days annually. Vacation days may be taken after January 15 of the year following the year in whic they are earned. Sick days may be taken as soon as they are earned; unused sick days accumulate. Additional information is as follows. Actual Hourly Wage Rate Vacation Days Used by Each Employee Sick Days Used by Each Employee 2019 2020 2019 $7 2020 2019 $8 0 2020 8 5 6 Skysong Company has chosen to accrue the cost of compensated absences at rates of pay in effect during the period when earned and to accrue sick pay when earned. - Your answer is partially correct. Prepare journal entries to record transactions related to compensated absences during 2019 and 2020. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit AUCUN CIC Ucapruncion COTC rur 2019 | Salaries and Wages Expense 4032 Salaries and Wages Payable 4032 (To accrue the expense and liability for vacations) Salaries and Wages Expense 896 Salaries and Wages Payable 896 (To accrue the expense and liability for sick pay) Salaries and Wages Payable. 2240 Cash 2240 (To record payment for compensated time when used by employees) 2020 Salaries and Wages Expense 512 Salaries and Wages Payable 512 (To accrue the expense and liability for vacations) Salaries and Wages Expense 512 Salaries and Wages Payable 512 (To accrue the expense and liability for sick pay) Batarres anu vages Tayable (To accrue the expense and liability for vacations) Salaries and Wages Expense 512 Salaries and Wages Payable 512 (To accrue the expense and liability for sick pay) Salaries and Wages Payable 3584 Cash : 3584 (To record vacation time paid) Salaries and Wages Payable 896 Salaries and Wages Expense 2048 Cash 2944 (To record sick leave paid) List of Accounts Cash 2944 (To record sick leave paid) List of Accounts - Your answer is partially correct. Compute the amounts of any liability for compensated absences that should be reported on the balance sheet at December 31, 2019 and 2020. 2019 2020 Vacation Wages Payable $ 4032 960 Sick Pay Wages Payable $ 896 LA 512 List of Accounts Save for Later Attempts: 1 of 3 used Submit Answer CUICULALLPLWL051JJ Skysong Company began operations on January 2, 2019. It employs 8 individuals who work 8-hour days and are paid hourly. Each employee earns 9 paid vacation days and 7 paid sick days annually. Vacation days may be taken after January 15 of the year following the year in whic they are earned. Sick days may be taken as soon as they are earned; unused sick days accumulate. Additional information is as follows. Actual Hourly Wage Rate Vacation Days Used by Each Employee Sick Days Used by Each Employee 2019 2020 2019 $7 2020 2019 $8 0 2020 8 5 6 Skysong Company has chosen to accrue the cost of compensated absences at rates of pay in effect during the period when earned and to accrue sick pay when earned. - Your answer is partially correct. Prepare journal entries to record transactions related to compensated absences during 2019 and 2020. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit AUCUN CIC Ucapruncion COTC rur 2019 | Salaries and Wages Expense 4032 Salaries and Wages Payable 4032 (To accrue the expense and liability for vacations) Salaries and Wages Expense 896 Salaries and Wages Payable 896 (To accrue the expense and liability for sick pay) Salaries and Wages Payable. 2240 Cash 2240 (To record payment for compensated time when used by employees) 2020 Salaries and Wages Expense 512 Salaries and Wages Payable 512 (To accrue the expense and liability for vacations) Salaries and Wages Expense 512 Salaries and Wages Payable 512 (To accrue the expense and liability for sick pay) Batarres anu vages Tayable (To accrue the expense and liability for vacations) Salaries and Wages Expense 512 Salaries and Wages Payable 512 (To accrue the expense and liability for sick pay) Salaries and Wages Payable 3584 Cash : 3584 (To record vacation time paid) Salaries and Wages Payable 896 Salaries and Wages Expense 2048 Cash 2944 (To record sick leave paid) List of Accounts