2016年美国CPA练习题精选：Financial 10

North Corp. has an employee benefit plan for compensated absences that gives employees 10 paid vacation days and 10 paid sick days. Both vacation and sick days can be carried over indefinitely. Employees can elect to receive payment in lieu of vacation days; however, no payment is given for sick days not taken. At December 31, North's unadjusted balance of liability for compensated absences was $21,000. North estimated that there were 150 vacation days and 75 sick days available at December 31. North's employees earn an average of $100 per day. In its December 31 balance sheet, what amount of liability for compensated absences is North required to report?

a. $21,000

b. $22,500

c. $36,000

d. $15,000

答案：D

Explanation

Choice "d" is correct. $15,000 liability for compensated absences.

150 vacation days × $100 per day = $15,000

Rule: Accrued compensated absences generally includes "vacation pay" but not "sick pay." Sick pay usually (and in this fact situation) does not vest.

Note: The $21,000 unadjusted balance on the books is a "distractor."