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Red hot company compensates its employees for certain absences for vacation and sickness. employees are entitled to one-day vacation plus one-day sick leave for each month worked during the year. unused vacation days may be carried forward, but unused sick leave does not accumulate. employees are compensated according to their pay in effect at the time of the leave. the following data were taken from the records for the year 2015. employee date of unused vacation vacation taken sick leave taken rate per employment 1/1/2015 in 2015 in 2015 day a.b. santos 01/07/13 0 7 5 p 450 c.d. garcia 06/28/14 6 3 10 420 e.f. cruz 11/01/15 0 0 5 400 g.h. buen 08/01/15 0 1 2 380
Problem 1: Compute the balance of the account liability for compensated absences at december 31, 2014.
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