Answered: Compute the balance of liability for…

PAYROLL ACCT.,2019 ED.(LL)-TEXT

19th Edition

ISBN:9781337619783

Author:BIEG

Publisher:BIEG

Chapter3: Social Security Taxes

Section: Chapter Questions

Problem 10PB: The monthly and hourly wage schedule for the employees of Quincy, Inc., follows. No employees are...

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GHI 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 2021.

Employee	Date of initial employment	Unused vacation 1/1/2021	Vacation taken in 2021	Sick leave taken in 2021	Rate per day
Rj	1/10/2019	18	8	5	1,000
Pinky	7/28/2020	5	4	10	800
Janus	9/1/2021	0	2	6	600
Noli	8/1/2021	0	3	5	400

Compute the balance of liability for compensated absences at December 31, 2021.

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