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Bear island Ltd has weekly payroll Bear Island Ltd has a weekly payroll of $350,000. The employees receive entitlements to 3 weeks' sick leave per
Bear island Ltd has weekly payroll
Bear Island Ltd has a weekly payroll of $350,000. The employees receive entitlements to 3 weeks' sick leave per year- sick-leave entitlements are classified as non-vesting. Past experience, and experience within the industry, suggest tha percent of employees will use their full 3 weeks' entitlement each year; 10 percent of employees will take 1 weeks' leave each year, and 10 percent of employees will take 3 day's sick leave each year. (6 mart Required: h a) Calculate the expected annual sick leave expense for Bear Island Ltd (on the basis of average salaries). b) Provide the journal entries necessary each week to recognise the sick-leave entitlement expense as it accrues
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