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    ohiostudent119's Avatar
    ohiostudent119 Posts: 6, Reputation: 1
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    #1

    Apr 23, 2009, 02:03 PM
    Accrued vacation
    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's Avatar
    ROLCAM Posts: 1,420, Reputation: 23
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    #2

    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.
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