much vacation liability should be on the balance sheet at June 30, 2025? Select answer from the options
much vacation liability should be on the balance sheet at June 30, 2025? Select answer from the options
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Cullumber Inc. has an annual unlimited vacation policy
for its employees and the eligibility requirement is to be
an employee of the company. Cullumber has 40
employees with average annual salaries of $42400.
Cullumber expects its employees to take vacation
evenly during the year. In the previous year, its
employees took on average 4 weeks of vacation. How
much vacation liability should be on the balance sheet
at June 30, 2025? Select answer from the options
below $70667 $282667 $0 $141333](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbec20c07-3200-474b-9b3d-a0700570ce7e%2F58c55769-e120-4c47-b1cb-1f6c146c8f25%2Fdpd0fxd_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Cullumber Inc. has an annual unlimited vacation policy
for its employees and the eligibility requirement is to be
an employee of the company. Cullumber has 40
employees with average annual salaries of $42400.
Cullumber expects its employees to take vacation
evenly during the year. In the previous year, its
employees took on average 4 weeks of vacation. How
much vacation liability should be on the balance sheet
at June 30, 2025? Select answer from the options
below $70667 $282667 $0 $141333
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