Kasten Inc. provides paid vacations to its employees. At December 31, 2020, 30 employees have each earned 2 weeks of vacation time. The employees’ average salary is $500 per week. Prepare Kasten’s December 31, 2020, adjusting entry.

Q: A company gives each of its 90 employees (assume they were all employed continuously through 2022…

A: Vacation Liability :— It is an accrued liability. When employees unable to used their vacation then…

Q: Bailey Corporation began business on January 2, 2019, with five employees. Its sick leave and…

A: Compensated Leaves:- These are those leave which employees take and get compensation for those…

Q: Blossom Co. began operations on January 2, 2020. It employs 13 people who work 8-hour days. Each…

A: Paid leave is the leave which is provided to employee in which the employees are eligible to get pay…

Q: Bettinghaus Corporation began business on January 2, 2019, with five employees. Its sick leave and…

A: Journal entry: It is prepared to record the financial and non-financial transactions of the business…

Q: The employees of Xitrex, Inc., are paid each Friday. The company’s fiscal year-end is June 30, which…

A: Required journal entries:

Q: ABC Co.’s salaried employees are paid twice a month. Information relating to salaries for the…

A: Introduction: Salaries payable is a current liability that contains the amounts owed to employees…

Q: On January 1, 2021, Packman Corporation agreed to grant its employees two weeks of vacation each…

A: Hey, Since there are multiple questions posted, we will answer first question. If you want any…

Q: Fighting Irish Incorporated pays its employees $5,600 every two weeks ($400/ day). The current…

A: Journal: Recording of a business transactions in a chronological order.

Q: Under the assumptlon: Unused vacation leaves vest (accumulating and ves What Is the balance of…

A: Employees are having paid leave provided by the company but if they do not take they are paid for…

Q: How to adjust this using the adjusting entries and write in general journal A seven-day (weekly…

A: Accrued salary on December 31 = Weekly salary x no. of days / 7 days = 7,000 x 2/7 days = 2,000

Q: Andy Roddick is the new owner of Sunland Computer Services. At the end of August 2020, his first…

A: Adjusting journal entries are generally passed at the end of accounting period to record income or…

Q: A company’s salaried employees earn two weeks’ vacation per year. The company estimated and must…

A: Leave travel concession a/c   Dr.                                       $9,000            To leave…

Q: The company’s three employees earned a total of P3,000 per day. They are paid each Friday for a…

A: Accrued wages are paid in the next accounting year.

Q: Company needs to determine whether the following items require adjusting entries at December 31,…

A: Adjusting Journal Entries The practice of adjusting journal entries are done at the end of the…

Q: Jerome Company has 35 employees who work 8 hours a day and are paid hourly. On January 1, 2018, the…

A: Vacation expenses means where the company provide the full pay on the specified holidays taken by…

Q: McFriend Inc. records its liabilities for employees’ vacations at the end of each month. For the…

A: Annual liability=Number of employees×Per Day×15 Days=46×$144×15=$99,360

Q: On December 1, 2019, an advance rent payment of $25,800, representing a three-month prepayment for…

A: The revenue and expenses are recognised when they are incurred irrespective of cash transaction.

Q: Adam Jameson is the new owner of GlassLeaf Computer Services. At the end of August 2020, his first…

A: Required journal entries:

Q: Prepare the adjusting entry for each of the following for the year ending Dec. 31, 2008: a. The…

A: Adjusting entries are those journal entries which are passed at the end of the period in order to…

Q: Oriole provides its employees two weeks of paid vacation per year. As of December 31, 70 employees…

A: The employees are considered as the important resources for the company. The company's profit…

Q: Bettinghaus Corporation began business on January 2, 2019, with five employees. Its sick leave and…

A: The financial statements which covers a period of less than one year is known as interim financial…

Q: Ruhl Company grants all employees two weeks' paid vacation for each full year of employment, up to…

A: Vacation pay is the legal right of an employee, The employee may get the paid vacations or the…

Q: ABC Corp allows each employee to earn 15 days of paid vacation leave per year. Unused vacation leave…

A: Unused vacation leaves as on Dec 2019 (50 employees x 15 dyas - 400 days) 350.00 Provision created…

Q: Chavez Co.’s salaried employees earn four weeks’ vacation per year. Chavez estimated and must…

A: Accrual basis: Under accrual basis accounting, revenue and expenses are recognized when they are…

Q: Under the assumptlon: Unused vacation leaves vest (accumulating and vesting), What Is the balance of…

A: Here ABC Corp Allows 15 Days Vacation leaves to each employee hence total leaves allowed by the…

Q: Gypsum Corporation pays its employees on the fifteenth of each month. Accrued, but unpaid, salaries…

A: Accrued salary are earned by employees but not paid, will be paid on due date. For the year end, the…

Q: Under the assumption: Unused vacation leaves vest (accumulating and vesting), What amount should be…

A: Vacation leave per employees per year = 15 days Number of Employees = 50 employees  Average salary…

Q: Aron and Nora Company grant all employees 2 weeks paid vacation for each full year of employment.…

A: The question is based on the concept of Business Accounting.

Q: Leyte Company an entity granted all employees two weeks of paid vacation for each full year of…

A: Vacation pay expenses indicate that how much vacations is earned by the employees in the current…

Q: Garcia Company rents out a portion of its building to Jerry Company for $1,000 per month. On August…

A: Adjusting journal entry: At year-end when the company finalizes its accounts then any unrecognized…

Q: Bettinghaus Corporation began business on January 2, 2019, with five employees. Its sick leave and…

A: 1: The table below shows the journal entry required to be passed on 31st march 2019

Q: Little Company provides its employees with varying amounts of vacation per year, depending on the…

A: Introduction: Adjusting entries are created to accurately allocate revenue and expenses to each…

Q: On July 1, 2019, Park Company leased office space for ten years to Rudd at a monthly rental of…

A: Amount receivable at December 31, 2019 should be monthly rent for the month of December which is not…

Q: Little Company provides its employees with varying amounts of vacation per year, depending on the…

A: Introduction: Adjusting entries are created to properly allocate income and expenses to each…

Q: On December​ 31, 2019​, $700of salaries has been accrued.​ (Salaries before accrued amount totaled…

A: Part a:

Q: Coronado Candies paid employee wages on and through Friday, January 26, and the next payroll will be…

A: >Adjusting entries are recorded, as part of completion of accounting cycle. >These are…

Q: Charlet Company has 35 employees who work 8 hour a day and are paid hourly. On January 1, 2019, the…

A: Short term compensating absences are of two types - a) Accumulating  Accumulating short-term…

Q: Flowers Corp. pays its employees every Friday. The Flowers' Corp. employees earn $600,000 each five…

A: Weekly payment = $600,000 Number of working days in a week = 5 Days Week days till 31st December = 4…

Q: A company gives each of its 20 employees (assume they were all employed in January 2018) 12 days of…

A: Vacation expense = Number of employees * Vacation days * Daily shift hours * Wage rate   Vacation…

Q: Buster Industries pays weekly salaries of $30,000 on Friday for a five-day week ending on that day.…

A: Salaries for 5 days = $30,000 Accrued salaries for tuesday (i.e. for 2 days) = $30,000 *2 days / 5…

Q: On January 1, 2021, Poplar Fabricators Corporation agreed to grant its employees two weeks of…

A: Requirement 1:   Prepare the appropriate adjusting entry for vacations earned but not taken in 2021.…

Q: Bloom's Company pays biweekly salaries of $40,000 every other Friday for a ten-day period ending on…

A: As per accrual method of accounting expenses which are incurred in a period has to be recorded in…

Q: Under vacation leave cannot be carrled over next year (non-accumulating), What amount should be…

A: Non-accumulative vacation leaves are the leaves that do not carry forward and it will lapse if the…

Q: Fighting Irish Incorporated pays its employees $2,940 every two weeks ($210/day). The current…

A: The expenses which are due but would be paid later are treated as outstanding expenses.

Q: On January 1, 2018, Poplar Fabricators Corporation agreed to grant its employees two weeks of…

A:

Q: Carson's Bakery had an employee that was down on their luck. The company decided to loàn the…

A: Adjusting entries are prepared at the end of the accounting period in order to ensure the accrual…

Q: Company A rents office space to tenants. On October 1, 2019 they collected $18,000 from a tenant…

A: As posted multiple independent questions we are answering only first question kindly repost the…

Q: se only at its December 31 year-end. Data relating to salaries earned on December 2021 are as…

A: Accrued Salaries: Accrued salaries are a balance-sheet item that shows a current liability. These…

Q: Harp Beauty Shop pays salaries for the first half every 10th days of the succeeding month. The…

A: since nothing is mentioned, it is assumed that the question is asking about the preparation of…