At
December 31, 2011, 30 employees of Kasten Inc. have each earned two weeks of
vacation time. The employees’ average salary is $500 per week. Prepare Kasten’s
December 31, 2011 adjusting entry.
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Wages Expense...........................
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30,000
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Vacation
Wages Payable.............
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30,000
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(30 X 2 X $500)
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