Question: 4 Part B. (4 marks) a) Briefly explain the difference in accounting treatment for a provision and a contingent liability. (2 marks) b) During the

4 Part B. (4 marks) a) Briefly explain the difference in accounting treatment for a provision and a contingent liability. (2 marks) b) During the month of June, Transfield Pty Ltd.'s employees earned wages of $105 000. Payroll deductions related to these wages were $6750 for General Health Fund, $11 250 for PAYG withheld tax, $9450 for superannuateon, and $2000 for union fees. Required: Prepare the necessary 30 June journal entry to record payroll. Assume that wages earned during June will be paid during July. (2 marks) AY !!! -nim 1 m 1II Answer here] I/ www.invigilatorplus.com.au is sharing your screen. Stop sharing Hide

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