At 30 June 2010 balance of the Provision for Long Service Leave account for Purple...
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Accounting
At 30 June 2010 balance of the Provision for Long Service Leave account for Purple Ltd was $25 000. At 30 June 2011 the balance of the Provision for Long Service Leave account was $20 000. During the year ended 30 June 2011, Purple Ltd had recognised an expense for Long Service Leave of $10 000. For tax purposes, a deduction is allowed when the leave is paid. At 30 June 2011, the tax base for the Long Service Leave was:
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$20 000
$5 000
$15 000
Zero
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