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answered XYZ Ltd has three employees who are entitled to long service leave (LSL). The LSL can be taken after 15 years of service, at which time the employee is entitled to 11 weeks' leave. Information about the employees at 30 June 2020 is set out below: Marked out of 3.00 Employee Flag question Current annual salary $49090 $73152 $86481 Years of service 6 Priscilla Black George Lee Sam Brown Probability that LSL will be paid 23 percent 32 percent 83 percent 8 9 Other information collected: Periods to maturity 9 Corporate bond rate (%) 8 6 Government bond rate (%) 10 7 7 6 5 6 The inflation rate for the foreseeable future is 3 percent. The future salaries of the employees are expected to keep pace with inflation but not increase as a result of promotion The opening balance of the LSL provision is $7127. What is the movement in the provision for long service leave for the year ended 30 June 2020? answered XYZ Ltd has three employees who are entitled to long service leave (LSL). The LSL can be taken after 15 years of service, at which time the employee is entitled to 11 weeks' leave. Information about the employees at 30 June 2020 is set out below: Marked out of 3.00 Employee Flag question Current annual salary $49090 $73152 $86481 Years of service 6 Priscilla Black George Lee Sam Brown Probability that LSL will be paid 23 percent 32 percent 83 percent 8 9 Other information collected: Periods to maturity 9 Corporate bond rate (%) 8 6 Government bond rate (%) 10 7 7 6 5 6 The inflation rate for the foreseeable future is 3 percent. The future salaries of the employees are expected to keep pace with inflation but not increase as a result of promotion The opening balance of the LSL provision is $7127. What is the movement in the provision for long service leave for the year ended 30 June 2020