Question

Athena Company's salaried employees earn two weeks of vacation per year. It pays $816,400 in total employee salaries for 52 weeks but its employees work only 50. Record Athena Company's weekly journal entry to record the vacation expense:

Answer 1

Weekly vacation expense $628

Explanation:

Total employees salaries $816,400

Weekly salary expense $15.700 ($816,400/52 weeks)

Vacation expense for two wweks $31.200 ($15.700 * 2 weeks)

Weekly vacation expense $628 ($31.200/50 weeks)