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/

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.