Jonny Ltd has an average weekly payroll of $800,000. The employees are entitled to 2 weeks', non-vesting
Question:
Jonny Ltd has an average weekly payroll of $800,000. The employees are entitled to 2 weeks', non-vesting sick leave per annum. Past experience suggests that 66% of employees will take the full 2 weeks' sick leave and 15% will take 1 week's leave each year. The rest of the employees take no sick leave.
Required:
Calculate the expected annual sick-leave expense for Jonny Ltd.
What weekly entry would Jonny Ltd make in relation to sick leave? (Round amounts to the nearest dollar)
In the current week an employee with a weekly salary of $800 has been sick for the first time this year. The employee took 2 days off out of her normal 5-day working week. Assuming that a weekly entry has been made to record the accumulated liability for sick leave and that PAYG tax is deducted at 30%, what would the entry be to record the employee's weekly salary? (Round amounts to the nearest dollar
Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso