Bear Island ltd has a weekly payroll of $450,000. The employees receive entitlements to 2 weeks’ sick leave per year. The sick leave entitlements are classified as non-vesting. Past experience, and experience within the industry, suggest that 55 percent of employees will use their full 2 weeks’ entitlement each year; 10 percent of employees will take 1 weeks’ sick leave each year, and 10 percent of employees will take 1 day’s sick leave each year. Calculate the expected annual sick leave expense for bear island Ltd(on the basis of average salaries

A company grants employees 8 sick days per year. Sick days may be used as soon as they are earned and unused days may be carried over to the following year. Sick time is paid at the rate in effect when the days are taken, but are accrued at the rate in effect when they are earned. The following information pertains to the 20 employees of the company, who each work 8-hour days: Year Pay rate Sick days earned/employee Sick days taken/per employee 2020 $15.00 8 5 2021 17.00 8 7 a. Prepare the journal entry to record the sick pay earned in 2020. b. Prepare the journal entry to record sick days taken in 2020. c. Determine the liability for sick pay that the company would report on 12/31/20. d. Prepare the journal entry to record the sick pay earned in 2021. e. Prepare the journal entry to record sick days taken in 2021. f. Determine the liability for sick pay that the company would report on 12/31/21..