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What amount should be reported as liability

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Reference no: EM133177424

Question - West Company determined that is has an obligation relating to employees' rights to received compensation for future absences attributable to employees' services already rendered. The obligation relates to rights that vest, and payment of the compensation is probable. The amounts of West's obligations as of December 31, 2020 are reasonably estimated as follows:

Vacation pay 110,000

Sick pay 80,000

On December 31, 2020, what amount should be reported as liability for compensated absences?

Reference no: EM133177424

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