In 2018, city employees earned $3.6million in vacation pay that they did not use during the year. The city estimates that of this amount $2.8million will be paid in 2019 ( out of amounts budgeted for that year), $0.6million will be paid in subsequent years, and the balance of $0.2million will not have to be paid. The amount that the city should add to a fund-statement liability as of year-end 2018 is

A) $0

B) $2.8 million

C) $3.4 million

D) $3.6 million

2) assuming the same fact above, the amount that the city should add to the liability account in the government-wide statement of net position as of year ended 2018 is:

A) $0

B) $2.8million

C)$3.4million

D)$3.6million

Answer rating: 100% (QA)

Answer 1 correct answer is option A 0 Explanation Vacation ... View the full answer