Dainty Ltd has an average weekly payroll of $200 000. The employees are entitled to 2 weeks', nonvesting sick leave per annum. Past experienc suggests that 56% of employees will take the full 2 weeks' sick leave and 22% will take 1 week's leave each year. The rest of the employees take no sickleave. Required: In the current week an employee with a weekly salary of $600 has been off sick for the first time this year. The employee took 2 days off out of her normal 5-day working week. Assuming that PAYG tax is deducted at 30%, what would the entry be to record the employee's weekly salary (roundamounts to the nearest dollar)?
Dainty Ltd has an average weekly payroll of $200 000. The employees are entitled to 2 weeks', nonvesting sick leave per annum. Past experienc suggests that 56% of employees will take the full 2 weeks' sick leave and 22% will take 1 week's leave each year. The rest of the employees take no sickleave. Required: In the current week an employee with a weekly salary of $600 has been off sick for the first time this year. The employee took 2 days off out of her normal 5-day working week. Assuming that PAYG tax is deducted at 30%, what would the entry be to record the employee's weekly salary (roundamounts to the nearest dollar)?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Dainty Ltd has an average weekly payroll of $200 000. The employees are entitled to 2 weeks', nonvesting sick leave per annum. Past experienc suggests that 56% of employees will take the full 2 weeks' sick leave and 22% will take 1 week's leave each year. The rest of the employees take no sick
leave. Required:
In the current week an employee with a weekly salary of $600 has been off sick for the first time this year. The employee took 2 days off out of her normal 5-day working week. Assuming that PAYG tax is deducted at 30%, what would the entry be to record the employee's weekly salary (round
amounts to the nearest dollar)?
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