Question
What are the correct journal entries for government accounting? 1.Recognized the government agency's share for the following contributions: a.Retirement and Life Insurance PremiumP 20,000 b.PAG-IBIG
What are the correct journal entries for government accounting?
1.Recognized the government agency's share for the following contributions:
a.Retirement and Life Insurance PremiumP 20,000
b.PAG-IBIG Contributions2,000
c.Philhealth Contributions1,500
2.Paid the respective agencies for the contributions in No. 1
3.Collected business income for Communications Network Fees of P40,000 and remitted 50% to National Treasury.
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Managerial Accounting Tools For Business Decision Making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Ibrahim M. Aly
2nd Canadian Edition
