Grouper Company began operations on January 2, 2019. It employs 9 individuals who work 8-hour days...

Grouper Company began operations on January 2, 2019. It employs 9 individuals who work 8-hour days and are paid hourly. Each employee earns 10 paid vacation days and 6 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
$8	$9	0	9	4	5

Grouper 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.

Compute the amounts of any liability for compensated absences that should be reported on the balance sheet at December 31, 2019 and 2020.

	2019	2020
Vacation Wages Payable	$enter a dollar amount	$enter a dollar amount
Sick Pay Wages Payable	$enter a dollar amount	$enter a dollar amount

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ekkarill92 answered 1 year ago

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