Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 2: Employee Benefits [7 Marks] XYZ Ltd employs five staff. Each staff member is entitled to 20 days annual leave per annum. Leave loading
Question 2: Employee Benefits [7 Marks] XYZ Ltd employs five staff. Each staff member is entitled to 20 days annual leave per annum. Leave loading of 15.5% is paid when the leave is taken. Details of each employee leave entitlement at 30th May 2021 are as follows: Employee Salary Days owing @ 1/6/20 Days taken during the year Josua $35,000 15 10 Tariq $30,000 10 12 Ram $60,000 12 8 lan $62,500 7 17 Shalend $50,000 8 13 Additional information: There are 260 workdays in a year. On 1st June 2020, each year, all employees receive a 5% wage rise. There are no other wage rises given duringthe year. Required: Calculate the provision for annual leave for each employee as of 30th May 2021. [7 marks]
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started