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Question - A company gives each of its 100 employees (assume they were all employed continuously through 2016 and 2017) 12 days of vacation a year if they are employed at the end of the year. The vacation accumulates and may be taken starting January 1 of the next year. The employees work 8 hours per day. In 2016, they made $17.50 per hour and in 2017 they made $20 per hour. During 2017, they took an average of 9 days of vacation each. The company's policy is to record the liability existing at the end of each year at the wage rate for that year.
1. What amount of vacation liability would be reflected on the 2016 balance sheet?
2. What amount of vacation liability would be reflected on the 2017 balance sheet?
The merchandise saved from the flood has an estimated value of P 163,000. What is the estimated value of inventory damaged by the flood
Gorgeous Too Co. enters into a fixed-price construction. The contract is completed in 20x2. How much is the transaction price in the contract?
As a CPA, prepare an analysis to explain each type of dividends and how does Matthew allocate the amount of dividends to minimize tax liability
The company takes income taxes into account in its capital budgeting. Calculate the income tax expense in year 2
how you have in the past or will in the future use these transferrable skills in your professional communications in practice as you complete this assignment.
On October 3, Valley Clothing Inc. reacquired 10,000 shares of its common stock at $9 per share.
Will Grinder's S election survive Juan's death? Under the terms of Juan's will, the S shares will be held by his estate and not be distributed
At December 31, 2008, the fair value of the securities was $585,000. What should Quinn report on its 2008 income statement as a result of the increase in fair value of the investments in 2008?
Prepare the following budgets and schedules for Year 2, showing quarterly figures: Sales budget, Schedule of expected cash collections and Production budget
blue sky companys 123110 balance sheet reports assets of 5000000 and liabilities of 2000000. all of blue skys assets
Explain the internal control environment of source of capital and investment processes.
Calculate the target cost for maintaining current market share and profitability. (Do not round intermediate calculations. Round your answer to 2 decimal place)
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