disregard the first photo. please answer number 5-6

1. Prepare the compensation planning statement for the IT firm. 2. Bring out the significance of compensation planning and point out the problems encountered during the compensation planning process, 3. Define base pay system 4. Bring out the different types of pay system 5. Why companies of different pay system. What are the advantages of it? 6. Bring out the different steps involved in development of base pay system 7. Differentiate basic rate system of pay and incentive schemes of pay 8. Enumerate the different steps involved in installing pay system 9. What the pay objectives related points to be considered in pay system evolution 10. Bring out the steps involved in base pay development OLPSHR04 ONLINE G10 - OLAS PSHR04 COMPENSATION AND ADMINISTRATION CAINTA CAMPUS. Directions: Read and answer the following statement. Post your answer here and corresonding points will be given. 1. Prepare the compensation planning statement for the IT firm. 2. Bring out the significance of compensation planning and point out the problems encountered during the compensation planning process 3. Define base pay system 4. Bring out the different types of pay system 5. Why companies of different pay system. What are the advantages of it? 6. Bring out the different steps involved in development of base pay system 7 Differentiate basic rate system of pay and incentive schemes of pay 8. Enumerate the different steps involved in installing pay system 9. What the pay objectives related points to be considered in pay system evolution 10 Bring out the steps involved in base pay development Use the following information to answer 5-6: You were engaged for the first the tame to audit the financial statement of Vivar corporation for period ended December 31,2019. The company started its operation in 2017. In reviewing the books, the auditor discovered that certain adjustments had either been overlooked or improperly recorded at the end of years to 2016. Omissions and other failures for each year are summarized below: December 2017 2018 Omissions of the following year-end accruals/deferrals a. Accrued utilities expense 5,000 b. Accrued interest income 4,000 c. Unearned royalty income 8,000 Overstatement in year-end inventories 9,000 Understatement in year-end inventories 4,000 Organization costs incurred in the start-up of the business at the beginning of 201was capitalized by the company as an intangible asset and has been amortized for 5 years 50,000 Major repairs on the company's equipment were recognized as outright expenses. The company depreciates equipment at 20% per annum, but depreciation in the year of the expenditure 35,000 is at 10%. The company's books also revealed the following information: 2017 2018 Accumulated Profits, unadjusted 235,000 691,000 Profit - unadjusted 345,000 586,000 Dividends declared and distributed 110,000 130,000 5. Compute for the adjusted profit for 2017 6. Compute for the adjusted accumulated profits balance at the end of 2018