FINANCIAL ACCOUNTING
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ISBN: 9781259964947
Author: Libby
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Transcribed Image Text:Scenario 6
129
Campbell Company began operations on January 2, 2022. The
company has 9 employees who work 8-hour days and are paid
hourly. Each employee earns 10 paid vacation days annually,
which may be used after January 15th of the following year.
Additional information is as follows:
Hourly Wage Rate
2022
$12
2023
$13
Days Used per Employee
2022
2023
0
4
Compute the liability for compensated absences that should be
reported at December 31, 2023.
2022, the State
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