State employees earn $10 million in vacation leave.$7 million is paid in the current year and the remaining amount is deferred to future years.Which of the following the accounts will be credited in the general fund entry and the government-wide entry? $\begin{array}{lll}
& \underline {\text { General Fund }} & \underline {\text { Government-wide }} \
a) & \text { Cash } &\text { Cash \& accrued vacation pay } \
b) &\text { Cash \& accrued vacation pay } & \text { Cash } \
c) & \text { Cash } & \text { Cash } \
d) & \text { Cash } & \text { No entry } \
e) & \text { No entry } & \text { Cash } \
\end{array}$

Question

State employees earn $10 million in vacation leave.$7 million is paid in the current year and the remaining amount is deferred to future years.Which of the following the accounts will be credited in the general fund entry and the government-wide entry? $\begin{array}{lll}
&  \underline {\text { General Fund }} &  \underline {\text { Government-wide }} \
a) & \text { Cash }  &\text { Cash \& accrued vacation pay }   \
b) &\text { Cash \& accrued vacation pay }   & \text { Cash }     \
c) & \text { Cash } &  \text { Cash }  \
d) & \text { Cash } &  \text { No entry }  \
e) & \text { No entry }  &  \text { Cash }   \
\end{array}$

Quizplus · Accepted Answer

The Answer of State employees earn $10 million in vacation leave.$7 million is paid in the current year and the remaining amount is deferred to future years.Which of the following the accounts will be credited in the general fund entry and the government-wide entry? $\begin{array}{lll}
&  \underline {\text { General Fund }} &  \underline {\text { Government-wide }} \
a) & \text { Cash }  &\text { Cash \& accrued vacation pay }   \
b) &\text { Cash \& accrued vacation pay }   & \text { Cash }     \
c) & \text { Cash } &  \text { Cash }  \
d) & \text { Cash } &  \text { No entry }  \
e) & \text { No entry }  &  \text { Cash }   \
\end{array}$

State Employees Earn $10 Million in Vacation Leave