Solution-What amount of vacation expense and liability be

What amount of vacation expense and liability be reported

Assignment Help Accounting Basics

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

Questions Cloud

What accounting method do you think is the most appropriate : What accounting method do you think is the most appropriate for the allocation of joint cost and for their by products

Describe reasons for the decision reached in each case : Research and analyze (3) separate cases in which a teacher's individual rights were brought into question or denied; a teacher faced dismissal from his/her.

How many shares of common stock did Rudd have outstanding : At December 31, 20x2, how many shares of common stock did Rudd have outstanding? show the solution and explain

How much is the fair value of the plan assets : Contributions to the retirement fund during the year - 280,000. How much is the fair value of the plan assets as of year-end

What amount of vacation expense and liability be reported : In Rik's December 31, 20x6, financial statements, what amount of vacation expense and liability should be reported? show the solution and explain

Define how could the teacher revise the lesson : Are the standards, learning objectives, learning and teaching activities, and assessments aligned? If misaligned, how could the teacher revise the lesson.

Where teachers would find or access the assessment data : Where teachers would find or access the assessment data. Ideas for organizing (including use of technology), analyzing, or interpreting information from.

Should the school cafeteria make or buy its pizzas : The school cafeteria can make pizza for approximately $0.30 a slice. The cost of kitchen use and cafeteria staff runs about $200 per day.

Organisation for benefit of shareholders : Explain why it is important for non-financial measures to be included in these performance measurement systems for both 'top' managers

User Account

All Pages

What amount of vacation expense and liability be reported

Reference no: EM132800031

Reference no: EM132800031

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT