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Prepare the necessary adjusting entries at December

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Question - Prepare necessary adjusting entries at December 31, 2017, for Maxum Company's year-end financial statements for each of the following separate transactions and events.

1. Employees earn vacation pay at a rate of one day per month. During December, 20 employees qualify for one vacation day each. Their average daily wage is $160 per employee.

2. During December,Maxum Company sold 12,000 units of a product that carries a 60-day warranty repairs and it estimates the average repair cost per unit will be $15.

Reference no: EM132921726

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