Kerry Gill works for Kentucky Enterprises for an annual salary of $60 000. Kerry is entitled to
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Question:
Kerry Gill works for Kentucky Enterprises for an annual salary of $60 000. Kerry is entitled to 4 weeks' annual leave per year with a leave loading of 17.5%. What entry each week, additional to the one recording wages expense and PAYG tax deduction, would be required to accrue Kerry's entitlement to annual leave? When Kerry takes his 4 weeks' annual leave, what entry would be made to record this (only)? The tax is calculated at 30%.
(Assume that there are 52 weeks in a year.)
Related Book For
Taxation for Decision Makers 2017
ISBN: 9781119373735
7th edition
Authors: Shirley Dennis-Escoffier, Karen Fortin
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