Accrual entries assuming no time has been used

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Reference no: EM13775259

Birdle Company instituted a vacation and sick pay policy on 1-1-10. Thirty employees averaging $100 per day per employee were coveret under plan. The policy allows each employee 5 days of sick pay and 12 days of vacation per year. The monthly salary wage expense is $75,000.00. The total of 400 days of sick and vacation days were taken during 2010.

Prepare the 1/31/10 accrual entries assuming no time has been used, and the 12/31/10 accruals for compensated absences

Reference no: EM13775259

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