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holiday, vacation, sick days payable

(Dictionary)

Author:
Harold Averkamp, CPA, MBA

Definition

This current liability account reports the amount a company’s employees have earned in holiday pay, vacation pay, and sick days but have not yet taken as of the date of the balance sheet.

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  • Debits and Credits
  • Adjusting Entries
  • Financial Statements
  • Balance Sheet
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  • Bank Reconciliation
  • Accounts Receivable and Bad Debts Expense
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About the Author

Harold Averkamp

For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.

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