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Can you please show the working out for the answer please. Thank you in advance Sky Ltd started operating on 1 July 2017 with 20
Can you please show the working out for the answer please. Thank you in advance
Sky Ltd started operating on 1 July 2017 with 20 employees. On 30 June 2025, 8 years later, all of those employees were still with the company. On 1 July 2019, the company hired 15 more people but by 30 June 2025 only 8 of those were still employed by Sky Ltd. All employees are entitled to 15 weeks' long-service leave after a conditional 12 years of employment with the company. Below is the information available on 30 June 2025: The aggregated annual salaries of all employees hired on 1 July 2017 $600,000 $500,000 The aggregated annual salaries of all current employees hired on 1 July 2019 Probability that employees hired in 2017 work in the firm for 12-year employment Probability that employees hired in 2019 work in the firm for 12-year employment 35% 25% Periods to maturity Government bond rate High-quality corporate bond rate 6 10% 13% 4 8% 11% The inflation rate for the foreseeable future is: 2% 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: $5,000 What is the closing balance of the provision for long service leave account at the end of the current financial year (rounding to the nearest dollar What is the closing balance of the provision for long service leave account at the end of the current financial year (rounding to the nearest dollar)? O38,548 033,548 0116,281 081,513 078,513 What is the long service leave expense recognized for the current financial year (rounding to the nearest dollar)? O33,548 081,513 078,513 038,548 0116,281Step by Step Solution
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