Dividends are most often paid in the form of:

A dividend is a distribution of:

When a company issues new shares, the impact on the accounting

equation is to:

If

any portion of a non-current liability is to be paid in the next year, the

entire liability should be classified as a current liability.

An

employer is required to withhold pay-as-you-go tax from an employee’s gross pay

and pay it to the taxation authority (the ATO).

From

a manufacturer’s point of view, providing a warranty creates an obligation to

repair or replace goods if certain faults arise within the warranty period.

The

classification of a liability as current or non-current is important because it

may affect the evaluation of a company’s liquidity.

XYZ Industries employs 20 staff, paying them a weekly wage

of $800 each. The staff are entitled to four weeks annual leave, with any

unused annual leave paid out to staff upon resignation. The staff are also

entitled to two weeks sick leave per year, and past experience indicates that

85% of staff take all of their sick leave each year. Assume there is no leave loading.

How much provision for sick leave should XYZ Industries record

for the year?

XYZ Industries employs 20 staff, paying them a weekly wage

of $800 each. The staff are entitled to four weeks annual leave, with any

unused annual leave paid out to staff upon resignation. The staff are also

entitled to two weeks sick leave per year, and past experience indicates that

85% of staff take all of their sick leave each year. Assume there is no leave loading.

How much provision for annual leave should XYZ Industries record

for the year?

Assume that Yellowgum Ltd raised an annual provision for sick leave for $33,600, and that, by the end of the year, the following sick leave had been taken by staff:

2 staff members had taken all of their sick leave for the year

8 staff members had taken one week of sick leave for the year

4 staff members had not taken any sick leave at all.

Assuming all of the weekly entries to raise the provision were complete, what would the balance of the Provision for Sick Leave account be at this time?

Enter whole dollars only, no dollar

sign, no comma. Round up or down to the nearest whole dollar if required.