Tobago Inc.s hourly employees normally work eight hours a day, ï¬ve days a week. Employees who work
Question:
Required:
(a) Calculate net pay for each employee.
(b) Prepare the journal entry to record this payroll.
(c) Regarding Tobagos vacation plan,
(1) How many hours do Tobagos employees work during a year?
(2) How many hours of vacation do the employees earn if they work the full 50 weeks?
(3) How many hours does an employee have to work to earn one hour of vacation?
(4) What is the value of the vacation earned during the pay period ending April 30?
(5) Prepare the journal entry to record the accrual of the vacation pay.
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