McFriend Inc. records its liabilities for employees' vacations at the end of each month. For the month of January, McFriend had 50 employees who are paid an average of $176 per day. The company allows 15 paid vacation days per year. Prepare the journal entry to record the vacation accrual for January.

How to adjust this using the adjusting entries and write in general journal A seven-day (weekly payroll) of 7,000, paid every Friday. December 31 falls on Sunday so the employees will only be paid on January 5, 2021

Oriole provides its employees two weeks of paid vacation per year. As of December 31, 70 employees have earned two weeks of vacation time to be taken the following year. If the average weekly salary for these employees is $920, what is the required journal entry to accrue compensated absences? Debit Salaries and Wages Payable for $128295 and credit Salaries and Wages Expense for $128295. No journal entry required. Debit Salaries and Wages Expense for $128800 and credit Salaries and Wages Payable for $128800. Debit Salaries and Wages Expense for $64400 and credit Salaries and Wages Payable for $64400.

Jerome Company has 35 employees who work 8 hours a day and are paid hourly.On January 1, 2018, the entity began a program of granting the employees 10 days ofpaid vacation each year. Vacation days earned in 2018 may first be taken on January 1,2019.Year Hourly wage Vacation daysearned by eachemployee Vacation days usedby each employee2018 129 10 02019 135 10 82020 142.50 10 1015. What is the vacation pay expense for 2018?a. 0b. P361,200c. P378,000d. P344,40016. What is the accrued liability on December 31, 2020?a. P474,600b. P453,600c. P399,000d. P478,800 17. What is the accrued liability on December 31, 2020 assuming the policy is to accrueliability at the end of each year at the wage rate for that year?a. P474,600b. P453,600c. P399,000d. P478,800 Provide SOLUTION

Employees of the Deco House were paid on Friday, December 27 for the five days ending on December 27. The next payday is Friday, January 3rd. Employees work 5 days a week, Monday to Friday. The weekly payroll amounts to 3,800. The appropriate adjusting journal entry to be made on Tuesday, December 31, assuming the company's year-end is December 31, would you include a credit to Salaries Payable in tje amount of

On December 31, Reuter Company has a balance of $98.75 in the FUTA taxes payable account. This represents the employer’s liability for the fourth quarter taxes. Journalize the entry Reuter Company should make in January to record the last transfer (payment) of FUTA taxes.

Chavez Co.’s salaried employees earn four weeks’ vacation per year. Chavez estimated and must expense $8,000 of accrued vacation benefits for the year. (a) Prepare the December 31 year-end adjusting entry for accrued vacation benefits. (b) Prepare the entry on April 1 of the next year when an employee takes a oneweek vacation and is paid $500 cash for that week.

Ayayai Company began operations on January 2, 2019. It employs 9 individuals who work 8-hour days and are paid hourly. Each employee earns 9 paid vacation days and 7 paid sick days annually. Vacation days may be taken after January 15 of the year following the year in which they are earned. Sick days may be taken as soon as they are earned; unused sick days accumulate. Additional information is as follows. Actual HourlyWage Rate   Vacation Days Usedby Each Employee   Sick Days Usedby Each Employee 2019   2020   2019   2020   2019   2020 $6     $7     0   8   5   6 Ayayai Company has chosen to accrue the cost of compensated absences at rates of pay in effect during the period when earned and to accrue sick pay when earned.   Prepare journal entries to record transactions related to compensated absences during 2019 and 2020. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically…

Ayayai Company began operations on January 2, 2019. It employs 9 individuals who work 8-hour days and are paid hourly. Each employee earns 9 paid vacation days and 7 paid sick days annually. Vacation days may be taken after January 15 of the year following the year in which they are earned. Sick days may be taken as soon as they are earned; unused sick days accumulate. Additional information is as follows. Actual HourlyWage Rate   Vacation Days Usedby Each Employee   Sick Days Usedby Each Employee 2019   2020   2019   2020   2019   2020 $6     $7     0   8   5   6 Ayayai Company has chosen to accrue the cost of compensated absences at rates of pay in effect during the period when earned and to accrue sick pay when earned.   Prepare journal entries to record transactions related to compensated absences during 2019 and 2020. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically…