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Please help! Assume the facts in E13-3 except that Matt Broderick Company has chosen not to accrue paid sick leave until used, and has chosen
Please help! Assume the facts in E13-3 except that Matt Broderick Company has chosen not to accrue paid sick leave until used, and has chosen to accrue vacation time at expected future rates of pay without discounting. The company used the following projected rates to accrue vacation time. Prepare journal entries to record transactions related to compensated absences during 2016 and 2017. Compute the amounts of any liability for compensated absences that should be reported on the balance sheet at December 31, 2016, and 2017. Assume the facts in E13-3 except that Matt Broderick Company has chosen not to accrue paid sick leave until used, and has chosen to accrue vacation time at expected future rates of pay without discounting. The company used the following projected rates to accrue vacation time. Prepare journal entries to record transactions related to compensated absences during 2016 and 2017. Compute the amounts of any liability for compensated absences that should be reported on the balance sheet at December 31, 2016, and 2017
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