What amount should be reported as vacation pay expense

Assignment Help Financial Accounting
Reference no: EM132980978

Question - The current salary of employee is an average of 5,000 per week and the salary is expected to increase to 5,500 per week. Krusty krab reported the employees are each entitled to two  weeks of paid vacation leave. During the year earned 2,000 weeks of vacation leave and used 1,500 weeks. What amount should be reported as vacation pay expense if the benefit is non-accumulating and non-vesting?

Reference no: EM132980978

Questions Cloud

Calculate taxable income and tax amount for the tax year : He received loan from the employer of RS. 2,000,000. Interest on the loan is 14%. Calculate taxable income and Tax amount for the tax year
What is the amount of bond amortization for each six month : Towson Corporation issued $250,000 of 8% ten year bonds at 104 on the semi-annual interest date. What is the amount of bond amortization for each six month
Explain the policy or regulation selected : Highlight organizational policies and procedures that are/will be in place at your healthcare organization to address the policy or regulation you selected.
Discuss the top three traits feel makes a good nurse leader : Discuss the top three traits you feel makes a good nurse leader. Support your statements with examples from your practice experience and scholarly sources.
What amount should be reported as vacation pay expense : During the year earned 2,000 weeks of vacation leave and used 1,500 weeks. What amount should be reported as vacation pay expense
What is the amount of retained earnings did s company report : Pay Corporation uses cost method in accounting for investment in Ignacio Company. What is the amount of retained earnings did S Company report
Why would not choose some of the other choices : If you could only choose one chemical agent to use in your home, which would you choose and why? Why would you not choose some of the other choices?
Demonstrate the ability to safely provide management : Demonstrate the ability to safely and competently provide management for common gynecological complaints and well-women visits.
Determine H net income for tax purposes for the current year : In the current year, H earned employment income of $70,000 and had a capital loss of $12,000. Determine H's net income for tax purposes for the current year

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd