Oriole Company has 50 employees who work 8-hour days and are paid hourly. On January 1, 2025, the company began a program granting its employees 10 days of paid vacation each year. Vacation days earned in 2025 may first be taken on January 1, 2026. Information relative to these employees is as follows: Year 2025 2026 2027 Hourly Wages $28.50 30.50 33.50 Vacation Days Earned by Each Employee O $134000. O $365600. O $182800. O $158400. 10 10 10 Vacation Days Used by Each Employee 0 8 10 Oriole has chosen to accrue the liability for compensated absences at the current rates of pay in effect when the compensated time i earned. What is the amount of the accrued liability for compensated absences that should be reported at December 31, 2027?
Oriole Company has 50 employees who work 8-hour days and are paid hourly. On January 1, 2025, the company began a program granting its employees 10 days of paid vacation each year. Vacation days earned in 2025 may first be taken on January 1, 2026. Information relative to these employees is as follows: Year 2025 2026 2027 Hourly Wages $28.50 30.50 33.50 Vacation Days Earned by Each Employee O $134000. O $365600. O $182800. O $158400. 10 10 10 Vacation Days Used by Each Employee 0 8 10 Oriole has chosen to accrue the liability for compensated absences at the current rates of pay in effect when the compensated time i earned. What is the amount of the accrued liability for compensated absences that should be reported at December 31, 2027?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Oriole Company has 50 employees who work 8-hour days and are paid hourly. On January 1, 2025, the company began a program of
granting its employees 10 days of paid vacation each year. Vacation days earned in 2025 may first be taken on January 1, 2026.
Information relative to these employees is as follows:
Year
2025
2026
2027
Hourly
Wages
$28.50
30.50
33.50
Vacation Days Earned
by Each Employee
O $134000.
O $365600.
O $182800.
O $158400.
10
10
10
Vacation Days Used
by Each Employee
0
8
10
Oriole has chosen to accrue the liability for compensated absences at the current rates of pay in effect when the compensated time is
earned.
What is the amount of the accrued liability for compensated absences that should be reported at December 31, 2027?
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