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Debit: Vacation expense Credit: Vacation accrual

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Q: What is the entry for vacation accrual?
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What is an accrual journal entry?

Accrual journal entry means that entry the transaction of which is occurred already but payment is not yet received or paid to other party.


Which one of the accounts below would likely be included in an accrual adjusting entry?

Unearned rent would likely be included in an accrual adjusting entry.


For the modified accrual basis of accounting what would be the entry to record the purchase of an building?

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How Are vacation days accrued?

Accrual of vacation days is determined by the company or union that the person works for. In some cases there is no accrual, in others it is unlimited. There are some that allow carryover up to a years worth, but anything above that is lost. Some even allow individuals to sell their vacation days back.


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My company owes me $6000.00 in expenses, unpaid for 4 months. I am not allowed to take vacation for the past 2 years, but the company refuses to allow any new vacation accrual. At present, excluding my 2009 accrual, the company owes me approximately 6 wee?

check out Ozbo.com,it may not be available for your local store but check out that site and also www.AULSuperStore.com


What is the difference between Modified accrual and Full accrual method?

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