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Pirate Ltd employs 5 staff. Each staff member is entitled to 20 days annual leave per annum Leave loading of 17.5% is paid when the leave is taken. At 1 July 2Q13 the balance in t e provision for annual leave account was $20 303. Details of each employee’s leave entitlement at 30 June 2014 are as follows: There are 260 work days in a year. On 1 July each year all employees receive a 5% wage rise. There are no other wage rises given during the year. The closing balance in the provision for annual leave account at 30 June 2014 is: a) $18 712. b) $19 647. *c) $23 086. d) $27 221.
