Question
Grace Ltd has 8 employees, who are each paid $500 per week for a 5 day working week. Each employee is entitled to 10 days
Grace Ltd has 8 employees, who are each paid $500 per week for a 5 day working week. Each employee is entitled to 10 days accumulating non-vesting sick leave per year. At 1 July 2019 the accumulated untaken leave was 35 days in total. During the year ended 30 June 2020 a total of 45 days sick leave was taken, of which 10 days were unpaid leave. Of the accumulated untaken leave at 30 June 2020 it is estimated that 80% of it will be taken during the following year.
The balance of the provision for sick leave at 30 June 2020 is (rounded to the nearest dollar)
$ 640 | ||
$5 760 | ||
$6 400 | ||
$8 000 |
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