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jws transport co. employees earn vacation time at the rate of 1 hr per 40-hour work period. the vacation pays vests immediately.
jws transport co. employees earn vacation time at the rate of 1 hr per 40-hour work period. the vacation pays vests immediately. during 2009, total wages paid to employees equaled 404,000 including 8,000 for vacation actually taken in 2009 but not including vacations related to 2009 that will be taken in 2010. all vacations earned before 2009 were taken before jan 1, 2009. no accrual entries have been made for the vactions. no over time premium and no bonuses were paid during the period. prepare the appropriate adjusting entry for vacations earned but not taken in 2009
JOURNAL ENTRIESDEBITWages for 2009Vacation PayableBank/cashVacation Earning ExpensesVacation Earning Payable CREDIT 396000800040400096609660