Love Company requires advance payments with special orders for machinery constructed to customer specifications. These advances are nonrefundable. Information for the current year is: Advances from customers – January 1 P1,320,000 Advances received with orders 2,160,000 Advances applied to orders shipped 1,920,000 Advances applicable to orders cancelled 120,000 In Love Company’s December 31 statement of financial position, what amount should be reported as current liability for

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A:

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Employee Benefits

In an organization employees are the most important resource and most important asset. They can lead an organization to the sky or can be the reason for unsuccessful of business. Therefore, it is very much important that employees of an organization should be satisfied by the environment of the organization and most importantly with the salary, wages incentives, etc.