Windsor Company began operations on January 2, 2016. It employs 8 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 |
Vacation Days Used |
Sick Days Used |
||||||||||
|
2016 |
2017 |
2016 |
2017 |
2016 |
2017 |
|||||||
| $7 | $8 | 0 | 8 | 5 | 6 | |||||||
Windsor 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 2016 and 2017. (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.)
|
Date |
Account Titles and Explanation |
Debit |
Credit |
|
2016 |
|||
|
(To accrue the expense and liability for vacations) |
|||
|
(To accrue the expense and liability for sick pay) |
|||
|
(To record payment for compensated time when used by employees) |
|||
|
2017 |
|||
|
(To accrue the expense and liability for vacations) |
|||
|
(To accrue the expense and liability for sick pay) |
|||
|
(To record vacation time paid) |
|||
|
(To record sick leave paid) |
List of Accounts
Compute the amounts of any liability for compensated absences that should be reported on the balance sheet at December 31, 2016 and 2017.
|
2016 |
2017 |
|||
| Vacation Wages Payable | ||||
| Sick Pay Wages Payable |
In: Accounting
________ 16. According to the Rule of 72, it will take _____ years to double your money at a 6.4 percent rate of interest.
a. 11.25 years b. 11.33 years c. 11.67 years d. 12.00 years
________ 17. Your current annual salary is $97,400. Your first job paid $22,500. How many years have you been
employed if your average annual salary increase has been 4.2 percent?
a. 26.87 years b. 31.15 years c. 32.01 years d. 35.62 years
________ 18. Which one of the following statements is correct, all else held constant?
a. The future value will decrease if the interest rate is increased.
b. The present value is directly related to the interest rate.
c. An increase in the interest rate will increase the time period.
d. The future value and the present value are directly related.
________ 19. Ten years ago, Zenia had a population of 4.6 million residents. Today, there are 6.3 million residents of
Zenia. What is the annual rate of population growth?
a. 2.68 percent b. 2.94 percent c. 3.19 percent d. 4.27 percent
________ 20. A farmer currently produces 45,000 bushels of corn a year. He can increase his harvest by an average rate of
3 percent annually. How long will it be until the farmer can produce 50,000 bushels of corn each year?
a. 3.07 years b. 3.56 years c. 3.80 years d. 4.14 years
In: Finance
How did the Factory System affect the world economically?
please cite references
In: Economics
Explain, in detail, why atomic radii do not increase uniformly with increasing atomic number. Give specific examples in your answer.
In: Chemistry
please show work
In: Math
A firm that purchases electricity from the local utility is considering installing a steam generator. A large generator costs $300,000 whereas a small generator costs $240,000. The cost of operating the generator would be $100,000 per year for the large and $135,000 for the small. Either generator will last for five years. The cost of capital is 9%. For each generator option, assume immediate installation, with purchase and operating costs in the current year and operating costs continuing for the next four years. Assume payments under both options at the start of each year (i.e., immediate, one year from now,..., four years from now). What is the net present value of the more attractive generator? Please round your answer to the nearest dollar. Report the NPV of cost as a negative number.
In: Finance
In: Biology
When we receive an X-ray at the dentist office why do they place a lead apron on our chest? Why is it lead? What type of radiation?
In: Physics
Why do dictators hold elections? (comparative politics)
In: Psychology
A sample of butane gas, C4H10, was slowly heated at constant pressure of .80 bar. The volume of the gas was measured a series of different temperatures and plot of volume vs. temperature was constructed. The slope of the line was .0208 L/K. What was the mass of the sample of butane? Please explain.
In: Chemistry
A 55.0 mL solution of 0.126 M potassium alaninate (H2NC2H5CO2K) is titrated with 0.126 M HCl. The pKa values for the amino acid alanine are 2.344 (pKa1) and 9.868 (pKa2), which correspond to the carboxylic acid and amino groups, respectively. a) how do you calculate the PH of the first equivalent and b) the second equivalent? please help
In: Chemistry
A parallel plate capacitor with plate area 100.0cm2 and air-gap separation .500mm is connected to a 12.0 V battery, and fully charged. The batter is then disconnected.
A.) The plates are now pulled to a separation of 1.00mm. What is
the magnitude of the charge on each capacitor plate and the
magnitude of the E-field between the plates now? (
?0 = 8.85 x 10-12
C2/Nm2)
B.) What is the potential difference across the plates now?
C.) How much work was required to pull the plates to their new separation?
D.) If a proton was released from the + plate and hit the - plate, what speed would it have?
Thanks :D
In: Physics
Consider a company which owns a license of Class C network
(207.84.123.0), This Company wants to create 14 subnetworks.
1.
Determine the number of bits borrowed
2.
How many bits are then used for the subnet ID?
Determine the maximum number of hosts in each subnet
3.
Determine the subnet mask of this scheme
4.
Determine the first, the forth and the last network (subnet)
addresses
5.
Determine the first host address, the last host address and the
broadcast address in only the first subnet.
6.
7. To which subnet belongs the host having the address
207.84.123.181?
In: Computer Science
Suggest with proper explanation 10 reasons about which web framework is likely to at the forefront of technology in the next decades.
NOTE: NO plagiarism from the internet it should be typed in your OWN WORDS PLEASE.
In: Computer Science
a) Describe the glass transition temperature of polymers and ceramics
b) Compare and contrast the rules that underly the formation of crystalline structures in ceramics and polymers
In: Chemistry