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Hany Ltd provides 4 weeks (20 days) of accumulating vexted annual leave for the employees cach year af service. The company policy is that annual
Hany Ltd provides 4 weeks (20 days) of accumulating vexted annual leave for the employees cach year af service. The company policy is that annual kave must be taken within 6 months of the end of the period in which it acerues, Annual leaves and at the base salary rate (which excludes commissions, bonuses and overtimel. A 17.5% loading is applied to annual leave payments. The following summary data is derived from Harry Lad's payroll records for the year ended 30 June 2020 Base pay rates have increased during the year. The amounts shown are applicable at 30 June 2020: Annual leave Accumulated Taken during Base payday Balance hid 1 July 2019 during year year S (days) days) (days) 440 100 200 200 Employee category Managers Sales stad 150 0 670 220 110 Ortise workers 120 400 2x7 387 Other 100 200 240 Additionwl information After leave taken during the year had been recorded, Harty Ltd's trial balance revealed that the provision for annual leave had a debit balance of S262.160 at 30 June 2020. Required: a) Calealate the amount of annual leave that shevald be seened for each employee (5 marks) b) Prepare journal entries to account for the liability for annual leave at 30 June 2010 (2 marks) Hany Ltd provides 4 weeks (20 days) of accumulating vexted annual leave for the employees cach year af service. The company policy is that annual kave must be taken within 6 months of the end of the period in which it acerues, Annual leaves and at the base salary rate (which excludes commissions, bonuses and overtimel. A 17.5% loading is applied to annual leave payments. The following summary data is derived from Harry Lad's payroll records for the year ended 30 June 2020 Base pay rates have increased during the year. The amounts shown are applicable at 30 June 2020: Annual leave Accumulated Taken during Base payday Balance hid 1 July 2019 during year year S (days) days) (days) 440 100 200 200 Employee category Managers Sales stad 150 0 670 220 110 Ortise workers 120 400 2x7 387 Other 100 200 240 Additionwl information After leave taken during the year had been recorded, Harty Ltd's trial balance revealed that the provision for annual leave had a debit balance of S262.160 at 30 June 2020. Required: a) Calealate the amount of annual leave that shevald be seened for each employee (5 marks) b) Prepare journal entries to account for the liability for annual leave at 30 June 2010 (2 marks)
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