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Prepare journal entries to record the transactions

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Question - Top Gear Bhd began operations on January 2, 2018. It employs 15 people who work 8-hour days. Each employee earns 10 paid vacation days annually. Vacation days may be taken after January 10 of the year following the year in which they are earned. The average hourly wage rate was RM24.00 in 2018 and RM25.50 in 2019. The average vacation days used by each employee in 2019 was 9. Top Gear Bhd accrues the cost of compensated absences at rates of pay in effect when earned. Prepare journal entries to record the transactions related to paid vacation days during 2018 and 2019.

Reference no: EM133089884

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