Question I: What is the balance of provision for long-service leave related to the employees with 4 years of service on 30 June 2020?

A) $801

B) $1,601

C) $2,402

D) $3,202

E) $5,488

Question II: What is the balance of provision for long-service leave related to the employees with 16 years of service on 30 June 2020?

A) $17,500

B) $18,667

C) $37,334

D) $50,450

E) $56,000

The following information relates to Question I and II The employees of ABC lid are entitled to 13 weeks long service leave after 15 years' continuous service. The following information has been compiled for calculating the liability for long-service leave as on 30 June 2020. Years of Average Number of Average Probability of projected service as employees annual annual becoming salaries on 30 June as on 30 salaries unconditionally for 2019- entitled to long 2020 June 2020 when leave 2020 service leave is due 14 3 $50,000 $80,000 0.35 1 16 $70,000 $70,000 1.00 The long-service leave liability reported for the year ended 30 June 2019 was $30,360. The following high-quality corporate bond rates have been identified. Period to maturity Corporate bond rate (%) 4 years 4 11 years 8 16 years 11