Answered step by step
Verified Expert Solution
Question
1 Approved Answer
S The following information relates to Questions 5 and 6 The employees of ABC Lal are entitled to 13 weeks' long service leave after 15
S The following information relates to Questions 5 and 6 The employees of ABC Lal are entitled to 13 weeks' long service leave after 15 years' continuous service. The following information has been compiled for calculating the lability for long-service leave as on 30 June 2021. Years of service as on 30 June 2020 Number of employers as on 30 Jane 2020 Probability of Average salaries for t 2019-2020 Average projected annual salaries when becoming unconditionally entitled to long- leave is due service leave 50 000 80 000 0.35 70 000 70 000 1.00 4 16 The provision for long-service leave reported at the year ended 30 June 2020 was $40 380. Suppose the discount rate is 8% What is the balance of provision for long-service leave related to the employees with 4 years of service on 30 June 20217 052,744 O$1.601 OC-5801 0055,488
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