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ohiostudent119
Apr 23, 2009, 02:03 PM
i need an adjusting entry for dec 31. 2006 to book 5 weeks of accrued vacation of $30,000. These carry over weeks will be worth $40,000 in 2007. what are the journal entries i have to make/
ROLCAM
Apr 25, 2009, 01:36 AM
dec 31. 2006

DEBIT Wages Account *******30,000
CREDIT Provision for Unpaid Leave ***30,000

Being 5 weeks of accrued vacation.

You would need to make the necessary
entries for 2007 when you get there.
One step at a time.