Current month accrued vacation pay

Assignment Help Accounting Basics
Reference no: EM13151358

Zennia Company provides its employees with varying amount of vacation per year, depending on the length of employment. The estimated amount of the current year's vacation cost is $165,000. The journal entry to record the adjusting entry required on December 31, the end of the current year, to record the current month's accrued vacation pay is

Reference no: EM13151358

Questions Cloud

Compute the standard-state entropy : Calculate the standard-state entropy for the following reaction: 1 \rm CH_4(g) + 2 \rm O_2(g) \longrightarrow 1 \rm CO_2(g) + 2 \rm H_2O(l) (If applicable, coefficients of one have been included for clarity.)
Statement regarding the taxation of corporations : Which of the following statements is incorrect regarding the taxation of C corporations? a. The highest corporate marginal tax rate is 39%. b. Taxable income of a personal service corporation is taxed at a flat rate of 39%.
Which ons is matching to photosynthetic bacteria : Which ons is matching to photosynthetic bacteria?
Did the change to the process improve the mtbf : The manufacturer then changes a manufacturing process and produces another batch and again measures the MTBF. Did the change to the process improve the MTBF?
Current month accrued vacation pay : The journal entry to record the adjusting entry required on December 31, the end of the current year, to record the current month's accrued vacation pay is
Calculate the final temperature : Calculate the final temperature that results when a 13.0 -g sample of water at 23.1C absorbs 870 J of heat.
Which is matching to obligate anaerobes : which is matching to obligate anaerobes?
Food inventory turnover ratio : A Club has food sales of $4,000,000 and a food cost of 40%. The club's current ratio is 2, its food inventoryturnover ratio is 16, and its average collection period is 45 days. assume a year has 360 days.
Depreciation deduction for the computer system : Compute the depreciation deduction for the computer system in 2006 and the cost recovery recapture. Assume that in 2004, Elaine had instead expensed under Section 179 the cost of the computer system. Compute the cost recovery recapture in 2006.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Managing the collection of receivables

Compute the day’s sales uncollected for both companies as of the end of current period. Which company is doing a better job in managing the collection of its receivables?

  Corporations taxable income after drd

Included in this amount is dividend income of $60,000 from another corporation in which the taxpayer owns 90 percent of its stock outstanding. The corporation's taxable income (loss)after the DRD is?

  Answer key to unique global imports accounting simulation?

answer key to Unique global imports accounting simulation?

  How to make more realistic plans for future ventures

By using long term financial information and recording that information visually (sometimes) with graphs or portfolios, hospitals can keep track of how they are doing financially and make more realistic plans for future ventures? 50-100 words plea..

  Equivalent units of production

Compute the equivalent units of production for materials and conversion costs for the month of August. Compute the unit costs for materials and conversion costs for the month. Determine the costs to be assigned to the units transferred out and in pro..

  What controls should an organization

What controls should an organization like Tyco implement to ensure that such transactions do not take place in the future?

  Value chain analysis to identify value-creating activities

Conduct a Value Chain analysis to identify value-creating activities. Determine if the company has a sustainable competitive advantage, supporting your claim(s) or recommending action(s).

  Information regarding maturity risk premium

Assume that the real risk-free rate, r, is 3 percent and that inflation is expected to be 8 percent in Year 1, 5 percent in Year 2 and 4 percent thereafter.

  Determining income tax liability

He also paid $14,000 in mortgage interest, $1,800 in property taxes, $300 of credit card interest, and $1400 in job hunting expenses when he tried to change jobs in March. Determine Daniel's income tax liability for 2009 before any allowable credi..

  Amortized intangible assets

Should intangible assets always be amortized over their legal lives? Explain. What are the basic issues related to accounting for intangible assets?

  Cost recovery deduction of asset

The income from the business before the cost recovery deduction and the 179 deduction was 810k. She takes additional first year depreciation. Determine the cost recovery deduction with respect to the asset for 2013.

  Contract with the intent of hedging an account payable

A company enters into a futures contract with the intent of hedging an account payable of DM400,000 due on December 31. The contract requires that if the U.S. dollar value of DM400,000 is greater than $200,000 on December 31, the company will be r..

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