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Please solve this ASAP. Thank you! Flint Company began operations on January 2, 2019. It employs 11 individuals who work 8-hour days and are paid
Please solve this ASAP. Thank you!
Flint Company began operations on January 2, 2019. It employs 11 individuals who work 8-hour days and are paid hourly. Each employee earns 11 paid vacation days and 7 paid sick days annually. Vacation days may be taken after January 15 of the year following the year in which they are earned. Sick days may be taken as soon as they are earned; unused sick days accumulate. Additional information is as follows. Flint 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. 27 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.) 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.) Question 11 of 13 2.44/6 (To record payment for compensated time when used by employees) 2020 Salaries and Wages Expense 8712 Solaries and Wages Payable (To accrue the expense and liability for vacations) Salaries and Wages Expense 5544 Salaries and Woges Payable (To accrue the expense and liability for sick pay) Salaries and Wages Expense Salaries and Wages Payable (To record vacation time paid) Salaries and Wages Expense Salaries and Wages Payable (To record vacation time paid) (To record sick leave paid) eTextbook and Media Compute the amounts of any liability for compensated absences that should be reported on the balance sheet at December 31 , 2019 and 2020. Compute the amounts of any liability for compensated absences that should be reported on the balance sheet at December 31 . 2019 and 2020 Step by Step Solution
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