FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Use the information for the next four (4) questions. XYZ Company has an agreement to pay the sales manager a bonus of 5% of the entity's earnings. The income for the year before bonus and tax is P7,875,000 The income tax rate is 30% of income after bonus.
How much is the bonus, assuming bonus is a certain percent of the income before bonus and before tax?
How much is the bonus, assuming bonus is a certain percent of income after bonus but before tax?
How much is the bonus, assuming bonus is a certain percent of income after bonus and after tax?
How much is the bonus, assuming bonus is a certain percent of income after tax but before bonus?
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