User Account

All Pages

What is company long service leave liability relating Sala

Assignment Help Financial Accounting
Reference no: EM132944506

Questions -

Q1. Sala joined the company 7 years ago. She is entitled to 13 weeks of long service leave after completing 10 years of service with the company.

Her current salary is $50,000. Salaries are expected to grow by 2% for the next 5 years.

Sala is 80% certain that she will not leave the company in the next 5 years.

High quality bonds with a 5 year term have an interest rate of 6% and high quality bonds with a 3 year term have an interest rate of 4%

What is the company's long service leave liability relating to Sala?

A. $7,428

B. $4,000

C. $6,604

D. $2,604

Q2. A company has a fortnightly payroll of $200,000. On average, 50% of the employees take their full entitlement of two weeks sick leave, 30% take half of their full entitlement and 10% take only one day of sick leave per year.

The company deducts 20% income tax and 10% for superannuation. All deductions are paid out by the 15th of the following month.

Assume the pay period ends on Friday 3rd July and the financial year ends on 30th June. How much is the salaries expense at 30th June?

A. $60,000

B. $200,000

C. $140,000

D. $100,000

Reference no: EM132944506

Questions Cloud

What is outpatient care : 1) What is outpatient care? Why do you think it is important for hospital administrators to regard outpatient care as a key component of their overall business
Keep a journal recording of the transaction : Keep a journal recording of the transaction, when in exchange the old machine is valued Rp 18,000,000.00 and the rest is paid off in cash
Use of pivot tables : Do you think that the use of Pivot Tables is important for a Business Analysis?
Describe how to plate the dessert with artistic flair : Describe how to plate the dessert with artistic flair. Include any garnishes or decorations.
What is company long service leave liability relating Sala : Her current salary is $50,000. Salaries are expected to grow by 2% for the next 5 years. What is company long service leave liability relating Sala
What is the impact of nafta on north american middle class : What is the impact of NAFTA on North American middle class or small business; how did they get adversely impacted?
What makes a good problem if it is for consulting : 1. What makes a good problem if it is for a case study?
Draw a use data flow diagrams : Draw a use Data Flow Diagrams - The key concepts of cybersecurity you will be addressing and why you are drawing the threat model
What amount of amortization expense would the lessee record : The asset is recorded at $820000 and has an economic life of 8 years. What amount of amortization expense would the lessee record for the first year of lease

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd