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What amount of vacation expense and liability be reported

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Reference no: EM132800031

Question - The following information pertains to Rik Co.'s two employees:

Name

Weekly Salary

No. of Weeks worked in 20x6

Vacation rights vest or accumulated

Ryan

800

52

YES

Todd

600

52

NO

Neither Ryan nor Toddntook the usual two-week vacation in 20x6. In Rik's December 31, 20x6, financial statements, what amount of vacation expense and liability should be reported? show the solution and explain.

Reference no: EM132800031

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