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Shamrock Company began operations on January 2. 2016. It employs 11 individuals who work 8-hour deys and are paid hourly. Each employee eans 12 paid
Shamrock Company began operations on January 2. 2016. It employs 11 individuals who work 8-hour deys and are paid hourly. Each employee eans 12 paid vacation days and 7 paid sick days annuelly. Vacation deys 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 Actual Hourly Wage Rate Vacation Days Used by Each Employee Sick Days Used by Each Employee Shamrock Company has chosen not to accrue paid sick leave until usad, and has chosan to accrue vacation time at expactad future rates of pay ithout discounting. The company used the folloing projected rates to accre vacation Year in Which Vacation Projected Future Pay Rates Used to Accrue Vacation Pay Time Was Earned 2016 2017 $12.90 13.92 Propare journal entrics to record transactions ralated to compansated abzencas during 2016 and 2017. (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. Round answers to O decimal places,.g. 5,125.) Date Account Titles and Explanation 2016 Debit Credit (To accrue the eepense and lability for vacations) (To record sick leave paid) To record vacation time paid) 2017 To accrue the cepense and lability for vacations)
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