At 30 June 2020, the accountant for Braxton Brewery, Sue Robertson, is preparing the financial statements for

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At 30 June 2020, the accountant for Braxton Brewery, Sue Robertson, is preparing the financial statements for the year ended on that date. To calculate the annual leave payable, the accountant had gathered the following information on employee annual salary weeks leave outstanding.

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(a) Calculate the annual leave payable liability for Braxton Brewery as at 30 June 2020 based on a 52‐week year.

(b) The balance of the annual leave payable liability before the above calculation was $5310.
Show the general journal entry to record the appropriate balance in the Annual Leave Payable account.

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Financial Accounting

ISBN: 9780730363217

10th Edition

Authors: John Hoggett, John Medlin, Keryn Chalmers, Claire Beattie, Andreas Hellmann, Jodie Maxfield

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