Arena Company's Salaried Employees Earn Two Weeks Vacation Per Year

question 50

Multiple Choice

Arena Company's salaried employees earn two weeks vacation per year. It pays $858,000 in total employee salaries for 52 weeks but its employees work only 50. Record Arena Company's weekly journal entry to record the vacation expense:

• A) Debit Vacation Benefits Expense $16,500; credit Vacation Benefits Payable $16,500.
• B) Debit Vacation Benefits Expense $17,160; credit Vacation Benefits Payable $17,160.
• C) Debit Vacation Benefits Expense $17,875; credit Vacation Benefits Payable $17,875.
• D) Debit Vacation Benefits Payable $17,160; credit Vacation Benefits Expense $17,160.
• E) Debit Vacation Benefits Payable $16,500; credit Vacation Benefits Expense $16,500.

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Definitions:

Participant and Risk Sampling

A method in research where participants are selected based on the probability of their exposure to a certain risk or condition, aiming to assess its impact.

Ultimate Goal of Life

The highest or most significant aim an individual strives to achieve during their lifetime, often related to personal fulfillment and happiness.

Catharsis

The expression of emotions that is expected to lead to the reduction of disturbing symptoms.

Unique Traits

Traits possessed by one or a few persons.