Try another version of this question
Snell Industries has 6 employees. Each employee earns 1 vacation days a month.
Each employee is paid a weekly amount of $2,000 for a five-day work week.
1. Determine the amount of vacation expense for one month.
# of employees X vacation days = =
X =
weekly pay `/` 5 =
`/` 5 =
days X rate = monthly expense
X =
2. Journalize the entry to accrue the vacation expense for the month.
Date Description Debit Credit Vacation hours = 6*1 = 6; Daily Pay = 2000/5 = 400; Monthly Expense = 6*400 = 2400 Date Description Debit Credit Vacation Benefits Expense 2,400 Vacation Benefits Payable 2,400