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31 January, 19:47

During its first year of operations, a company granted employees vacation privileges and pension rights estimated at a cost of $45,000 and $36,000. The vacations are expected to be taken in the next year and the pension rights are expected to be paid over the next 5-30 years. What is the total cost of vacation pay and pension rights to be recognized in the first year?

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  1. 31 January, 21:50
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    The total cost of vacation pay and pension rights to be recognized the first year is $0

    Explanation:

    The vacations are expected to be taken the following year for which the vacation pay would be made and the pension rights are expected to be paid over the next 5-30 years. So, no cost is recognized in the first year
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