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How much should company carry as liability for gian

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Reference no: EM132715923

Problem 1: Company's employees earn two weeks of paid vacation for each year of employment and vacation time can be accumulated and carried forward to succeeding year and will be paid at the salary in effect when the vacation is taken. As of December 31, 2020, when Gian's salary was P6,000 per week, he had earned 20 weeks' vacation time and had used 14 weeks of accumulated vacation time. At Dec. 31, 2020, how much should company carry as liability for gian's accumulated vacation time?

Reference no: EM132715923

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