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11 January, 07:29

At the beginning of the current year, Paxx County's enterprise fund had a $125,000 balance for accrued compensated absences. At the end of the year, the balance was $150,000. During the year, Paxx paid $400,000 for compensated absences. What amount of compensated absences expense should Paxx County's enterprise fund report for the year?

a.$425,000

b.$550,000

c.$375,000

d.$400,000

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  1. 11 January, 08:15
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    a. $425,000

    Explanation:

    Calculation of compensated absences expense for the year

    Closing balance of compensated absences = $150,000

    + Payments made for compensated expenses = $400,000

    - Opening balance of compensated absences = - $125,000

    Compensated absences expense for the year = $425,000
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