Question 7 Not yet TOPIC 2 - PROVISIONS AND CONTINGENT LIABILITIES AND ACCOUNTING FOR EMPLOYEE BENEFITS answered Marked out of 2.00 P Flag question Venezia Ltd provides 10 days sick leave to employees for each year of service on a non-vesting, accumulating basis. Unused sick leave may be carried forward for one financial year. Sick leave is taken first out of the current year's entitlement and then out of any balance brought forward from the previous year. At 30 June 2020 the company had 279 full-time employees on an average annual salary of $83178. At this date, 17 percent of employees had taken their full entitlement to sick leave. The remaining employees had an average of 6 days accumulated leave (untaken). Past experience, which is expected to continue, indicates the following: 70% of all employees will take no more than 10 days sick leave in the following year. 23% of all employees will take 12 days of sick leave in the following year. 7% of all employees will take 13 days of sick leave in the following year You should assume that there are 260 working days per year. What is the sick leave provision balance for Venezia Ltd at 30 June 2020? PLEASE ENTER YOUR ANSWER IN WHOLE NUMBERS WITH NO COMMAS OR DOLLAR SIGNS (EG $1,000,000 SHOULD BE SHOWN AS 1000000)