Sales Cost of goods sold Gross Profit Operating expenses P800,000 480,000 320,000

Q: Otember 30, 2020: P324,720 Balance per bank statement, 09/30/2020 Add: Deposit in transit Erroneous…

A: Bank Reconciliation Statement: It is the statement to reconcile the balances of cashbook and bank…

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A: Accountants meticulously record data in a specific order and format. This allows them to quickly…

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A: Gross Profit=Gross ProfitTurnover×100

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A: Formula: Receivables turnover ratio = ( Net credit sales / Average Accounts receivables )

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A: Minimum Corporate Income Tax: The Minimum Corporate Income Tax is in place to ensure that businesses…

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A: Research and development expenses (R&D) refers to those expenditure which are related to the…

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A:

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A: Formula: Break even sales units = Fixed costs / Unit contribution margin

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Employer Pension Plan

An employer pension plan is a retirement benefit provided by an employer to employees before or after they retire. Over the course of the employees' working lives, the employer should invest a lump sum or make monthly contributions to investment schemes in employees' names. It is the employer's legal responsibility to provide employees with retirement plans that support them with guaranteed financial security in retirement.