Arctic Ice Inc. compensates its employees for certain absences. Employees can receive one day vacation plus one day sick leave for each month worked during the year. Unused vacation days may be carried forward, but unused sick leave expires within the year of employment. Employees are compensated according to their current pay rate. The following data were taken from the records for the year 2011.

Compute the amount that should be reported as a liability for compensated absences on December 31, 2011.

Question

Arctic Ice Inc. compensates its employees for certain absences. Employees can receive one day vacation plus one day sick leave for each month worked during the year. Unused vacation days may be carried forward, but unused sick leave expires within the year of employment. Employees are compensated according to their current pay rate. The following data were taken from the records for the year 2011.
  
Compute the amount that should be reported as a liability for compensated absences on December 31, 2011.

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The Answer of Arctic Ice Inc. compensates its employees for certain absences. Employees can receive one day vacation plus one day sick leave for each month worked during the year. Unused vacation days may be carried forward, but unused sick leave expires within the year of employment. Employees are compensated according to their current pay rate. The following data were taken from the records for the year 2011.
  
Compute the amount that should be reported as a liability for compensated absences on December 31, 2011.