Boree Ltd provides employees with 4 weeks (20 days) of annual leave for each year of service.

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Boree Ltd provides employees with 4 weeks (20 days) of annual leave for each year of service. The annual leave is accumulating and vesting up to a maximum of 6 weeks. Thus, all employees take their annual leave within 6 months after the end of each reporting period so that it does not lapse. Boree Ltd pays a loading of 17.5% on annual leave; that is, employees are paid an additional 17.5% of their regular wage while taking annual leave. Refer to the following extract from Boree Ltd’s payroll records for the year ended 30 June 2024. 

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Required Calculate the amount of annual leave that should be accrued for each employee.

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Financial Reporting

ISBN: 9780730396413

4th Edition

Authors: Janice Loftus, Ken Leo, Sorin Daniliuc, Belinda Luke, Hong Nee Ang, Mike Bradbury, Dean Hanlon, Noel Boys, Karyn Byrnes

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