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Manuka Ltd Has Seven Employees Who Are Entitled to Long

Question 27

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Manuka Ltd has seven employees who are entitled to long service leave (LSL) .The LSL can be taken after 15 years of service,at which time the employee is entitled to 13 weeks' leave.After 10 years the employee is entitled to a pro rata cash payment on leaving the company.Information about the employees is set out below: Manuka Ltd has seven employees who are entitled to long service leave (LSL) .The LSL can be taken after 15 years of service,at which time the employee is entitled to 13 weeks' leave.After 10 years the employee is entitled to a pro rata cash payment on leaving the company.Information about the employees is set out below: Other information collected. The inflation rate for the foreseeable future is 2 per cent.The future salaries of the employees are expected to keep pace with inflation but not increase as a result of promotion.Based on the information provided,what should the balance of the long service leave provision account be (rounded to the nearest dollar) ? A) $47,163 B) $47,146 C) $47,545 D) $20,991 E) None of the given answers. Other information collected.
Manuka Ltd has seven employees who are entitled to long service leave (LSL) .The LSL can be taken after 15 years of service,at which time the employee is entitled to 13 weeks' leave.After 10 years the employee is entitled to a pro rata cash payment on leaving the company.Information about the employees is set out below: Other information collected. The inflation rate for the foreseeable future is 2 per cent.The future salaries of the employees are expected to keep pace with inflation but not increase as a result of promotion.Based on the information provided,what should the balance of the long service leave provision account be (rounded to the nearest dollar) ? A) $47,163 B) $47,146 C) $47,545 D) $20,991 E) None of the given answers. The inflation rate for the foreseeable future is 2 per cent.The future salaries of the employees are expected to keep pace with inflation but not increase as a result of promotion.Based on the information provided,what should the balance of the long service leave provision account be (rounded to the nearest dollar) ?


A) $47,163
B) $47,146
C) $47,545
D) $20,991
E) None of the given answers.

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