After 15 weeks of the reporting period have passed, Jones’s pay increases to $60 000 per annum or $1 153.85 per week. At this time, the recorded balance of ‘annual leave expense’ and ‘annual leave payable’ is $1 355.70 ($90.38 per week 3 15 weeks). Jones is entitled to four weeks’ annual leave with loading of 17.5%. 

Required 

What general journal entry(ies) should Jones’s employer record to recognize these events?

Answer rating: 100% (QA)

Annual leave is paid at the wage rates current when the leave is taken If ther... View the full answer