* Please note different amounts used from similar question posted\" At the end o

Question

*Please note different amounts used from similar question posted" At the end of April, Hernandez Company had a balance of $38,600 in the vacation benefits payable account. During May, employees earned an additional $2,770 in vacation benefits, but some employees used vacation days that amounted to $2,090 of the vacation benefits. The $2,090 was charged to Wage Expense when it was paid in May. What adjusting entry would Hernandez Company make at the end of May to bring the vacation benefits payable account up to date?

I am trying to calculate..... VACATION BENEFITS EXPENSE $

VACATION BENEFITS PAYABLE $

Explanation / Answer

Hernandez Company Details Amt $ May beginning balance Vacation benefits payable=             38,600.00 Add:May Vacation benefits                 2,770.00 Less: Vacation benefits availed in May             (2,090.00) Ending Balance May               39,280.00 So differential Amount to be accounted=                   680.00 Adjusting Entry May End : Account Title Dr $ Cr $ Vacation Expense Payable                680.00 Wages Expenses                   680.00

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