Font Limited has been operating for years and currently employs 14 staff. The total weekly wages expense is $16,800 ($1,200 × 14 staff). Employees are entitled to four weeks of annual leave per year, with a 17.5% loading, and two weeks of sick leave.

Font Limited raised an annual provision for annual leave of $78,960 for all staff for this year. By the end of the year, staff had taken the following annual leave:

• 9 staff members took 4 weeks each

• 3 staff members took 3 weeks each

• 1 staff member took 2 weeks

• 1 staff member took 0 weeks

Assuming no other transactions have been made in relation to annual leave, what is the closing balance of the Provision for Annual Leave account at this time?

Enter only digits, no dollar sign, no comma. e.g 32567 NOT $32,567

Find Ltd has been operating for years and currently employs 14 staff. The total weekly wages expense is $16,800 ($1,200 × 14 staff).

Each staff member is entitled to two weeks of sick leave per year, which is non-cumulative. Based on past experience, Find Ltd expects ALL staff to use their full sick leave entitlement annually.

Assuming Find Ltd records sick leave provisions on a weekly basis, what amount should be recorded each week?

Round to the nearest whole dollar if required. Enter only digits, no dollar sign, no comma. For example: 32567 NOT $32,567

Elite Ltd is a newly incorporated company. They currently employs 13 staff. The total weekly wages expense is $20,800 ($1,600 × 13 staff). Employees of Elite Ltd are entitled to four weeks of

annual leave per annum, with a 17.5% loading. 

The Annual Leave Provision

carries over from year to year if staff do not take all of their leave, but

there was no leave balance owing at the start of the current year.

Assuming Elite Ltd records annual leave provisions on a weekly basis,

what amount would be recorded each week? 

Round to the nearest whole dollar if required. Enter only digits, no dollar sign, no comma. For example: 32567 NOT $32,567

MEL Group sells product A for $600 (cost $268) and product B for $820 (cost $430). The Provision for Warranties has an opening balance of $33,000 (credit).

What will the balance of the Provision for Warranties account be after replacing 24 units of product A and 47 units of product B with new inventory under warranty?

Enter only digits, no dollar sign, no comma. e.g 32567 NOT $32,567

Tictoc Ltd produces alarm clocks and sells them with a

one-year warranty. The warranty provision account at the start of the period

had a balance of $20,000CR. During the year warranty expense was recorded for $9,000

based on the current year’s sales. During the same period, warranty claims valued

at $18,000 were fulfilled. What is the closing balance of the provision for

warranties?

Timed Ltd produces watches and sells them with a one-year

warranty. The warranty provision account at the start of the period had a balance

of $2,000 CR. During the year warranty expense was recorded for $17,000 based on

the current year’s sales. During the same period, warranty claims valued at $14,000

were fulfilled. What is the closing balance of the provision for warranties?

REM Manufacturing sells several products including products A

and B. Total sales for the year ending 30 June 2025, are $1,500,000 for product A, and $3,600,000 for

product B. Both products are sold with a 12-month warranty covering parts and

labour against faults.

Based on past experience, 3% of total sales of product A are

claimed under warranty, and 5% of total sales of product B.

Ringbark Manufacturing sells several products including products A

and B. Total sales for the year are $150,000 for product A, and $360,000 for

product B. Both products are sold with a 12-month warranty covering parts and

labour against faults.

Based on past experience, 10% of total sales of product A are

claimed under warranty, and 5% of total sales of product B.

What is the total on each side of the accounting equation (A = L + OE)  as at 30 June 2024?

Do

not use commas, dollar signs, decimal points, spaces or the abbreviations.  For example just write the balance: 8396

What

is the total Net Assets as at 30 June 2024?

Do

not use commas, dollar signs, decimal points, spaces or the abbreviations DR or

CR.  For example just write the balance: 8396