Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 22 Not yet answered Marked out of 2.00 Flag question Time left 121.47 Weir Limited, a retail company, opened its doors for business on

image text in transcribed
Question 22 Not yet answered Marked out of 2.00 Flag question Time left 121.47 Weir Limited, a retail company, opened its doors for business on 1 January 2019. On 1 January the company hired 20 employees, who are each entitled to 20 working days leave per calendar year Leave not taken is carried forward to the next calendar year and is paid in cash to the employees when their services are terminated. All employees must take 15 days leave over December Four employees took all their leave 14 employees took only 17 days leave and the remaining employees only took the compulsory 15 days over December. Assume the daily rate for all employees is N$200 and that no employees resigned during the year The year end of Weir Limited is 31 December REQUIRED calculate the amount to be accrued in the FS in respect of the untaken leave for the year ended 31 December 2019

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Security Risk Handbook Assess Survey Audit

Authors: Charles Swanson

1st Edition

1032030356, 978-1032030357

More Books

Students also viewed these Accounting questions

Question

explain myths of E - commerce

Answered: 1 week ago

Question

2. What is the business value of security and control?

Answered: 1 week ago