Solved

On January 1, 2009, G Corporation Agreed to Grant Its

Question 26

Multiple Choice

On January 1, 2009, G Corporation agreed to grant its employees two weeks vacation each year, with the stipulation that vacations earned each year can be taken the following year. For the year ended December 31, 2009, G's employees each earned an average of $800 per week. 500 vacation weeks earned in 2009 were not taken during 2009. Wage rates for employees rose by an average of 5 percent by the time vacations actually were taken in 2010. What is the amount of G's 2010 wages expense related to 2009 vacation time?


A) $ 0
B) $ 20,000
C) $400,000
D) $420,000 (500 $800) 1.05% = $420,000

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents