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Identify and define the appropriate account

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Reference no: EM133010501

Question - The accountant for Fitzroy Cuisine Bistro Pty Ltd alerts the owners of the business as at 30 June 2020 that no provision has been made for annual leave of $1,200 and sick leave of $400 for their new permanent staff member Margaretta.

Required - As the accountant you will need to;

-Identify and define the appropriate account(s) to correct the inaction of not providing for annual and sick leave for the new employee Margaretta.

-Report the impact on the financial statements: Income Statement and Balance Sheet.

-Discuss the impact on the accounting equation by correcting the annual leave and sick leave.

Reference no: EM133010501

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