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On January 1, 2021, G Corporation agreed to grant all its employees two weeks paid vacation each year, with the stipulation that vacations earned each
On January 1, 2021, G Corporation agreed to grant all its employees two weeks paid vacation each year, with the stipulation that vacations earned each year can be taken the following year. For the year ended December 31, 2021, G's employees each earned an average of $770 per week. A total of 490 vacation weeks earned in 2021 were not taken during 2021. Wage rates for employees rose by an average of 7 percent by the time vacations actually were taken in 2022. What Is the amount of G's 2022 salaries expense related to 2021 vacation time? Multiple Choice O $26,411. $403.711. O SO $377.300. Panther Co. had a quality-assurance warranty liability of $352,000 at the beginning of 2021 and $314,000 at the end of 2021. Warranty expense is based on 2% of sales, which were $47 million for the year. What amount of warranty costs were paid during 2021? Multiple Choice $0. $902,000. $978,000. $940,000
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