Gigawatt Media has three employees. Their employment contracts entitle them to 13 weeks leave after 10 years
Question:
Gigawatt Media has three employees. Their employment contracts entitle them to 13 weeks leave after 10 years of service. Refer to the following information about each employee at 30 June 2024:
Required
(a) Calculate the value of the provision for long‐service leave for Gigawatt Media at 30 June 2024.
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Employee Cassandra Lance Current salary Years of service 140 000 105 000 Deb 190 000 3. 339 Assume salaries are not expected to change, and ignore the effect of inflation. The employees are committed to the organisation and do not plan to resign but will take long-service leave as soon as available. You have found out the following information on current high-quality bond interest rates: Period to maturity Bond rate 1 years 7 years 10 years 6% 8% 10%
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Related Book For
Accounting
ISBN: 9780730382737
11th Edition
Authors: John Hoggett, John Medlin, Keryn Chalmers, Claire Beattie
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