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(COVID provisions) Lamden Company paid its employee Trudy, wages of $61,500 in 2020. Of this amount, $2,400 was allocated to sick pay for two weeks due to Trudy’s spouse contracting COVID and Trudy being quarantined. Trudy spent another 10 weeks at home caring for their children that were unable to attend school. Lamden allocated $10,000 in wages to family leave. Lamden allocated $6,000 of Trudy’s wages to the employee retention credit (5 weeks). The allocation of health care costs is $200 per week. Compute Lamden’s: Credit for sick pay   Credit for family leave   Employee retention credi

(COVID provisions) Lamden Company paid its employee Trudy, wages of $61,500 in 2020. Of this amount, $2,400 was allocated to sick pay for two weeks due to Trudy’s spouse contracting COVID and Trudy being quarantined. Trudy spent another 10 weeks at home caring for their children that were unable to attend school. Lamden allocated $10,000 in wages to family leave. Lamden allocated $6,000 of Trudy’s wages to the employee retention credit (5 weeks). The allocation of health care costs is $200 per week. Compute Lamden’s: Credit for sick pay   Credit for family leave   Employee retention credi

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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How to calculate the following:

(COVID provisions) Lamden Company paid its employee Trudy, wages of $61,500 in 2020. Of this amount, $2,400 was allocated to sick pay for two weeks due to Trudy’s spouse contracting COVID and Trudy being quarantined. Trudy spent another 10 weeks at home caring for their children that were unable to attend school. Lamden allocated $10,000 in wages to family leave. Lamden allocated $6,000 of Trudy’s wages to the employee retention credit (5 weeks). The allocation of health care costs is $200 per week. Compute Lamden’s:

Credit for sick pay  
Credit for family leave  
Employee retention credit
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