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 Hourly Wage Rate Vacation Days Used by Each Employee Sick Days Used by 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 indented when amount is entered. Do not indent manually.) I need help with last part. (To record sick leave paid)
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 Hourly Wage Rate Vacation Days Used by Each Employee Sick Days Used by 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 indented when amount is entered. Do not indent manually.) I need help with last part. (To record sick leave paid)
Chapter4: The Adjustment Process
Section: Chapter Questions
Problem 2EB: Identify whether each of the following transactions, which are related to expense recognition, are...
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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 Hourly
Wage Rate |
Vacation Days Used
by Each Employee |
Sick Days Used
by 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
I need help with last part. (To record sick leave paid)
Transcribed Image Text:(To accrue the expense and liability for vacations)
Salaries and Wages Expense
3,528
Salaries and Wages Payable
3,528
(To accrue the expense and liability for sick pay)
Salaries and Wages Expense
576
Salaries and Wages Payable
3456
Cash
4,032
(To record vacation time paid)
(To record sick leave paid)
Transcribed Image Text:Date Account Titles and Explanation
Debit
Credit
2019
Salaries and Wages Expense
3,888
Salaries and Wages Payable
3,888
(To accrue the expense and liability for vacations)
Salaries and Wages Expense
3,024
Salaries and Wages Payable
3,024
(To accrue the expense and liability for sick pay)
Salaries and Wages Payable
2,160
Cash
2,160
(To record payment for compensated time when used by
employees)
2020
Salaries and Wages Expense
4,536
Salaries and Wages Payable
4,536
(To accrue the expense and liability for vacations)
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