Baekhyun Company distributes annual bonuses to its sales manager and two sales supervisors. The company reported P2,000,000 profit for 2021 before bonuses and income tax. Income tax rate is P30%. The bonus is 15% of profit after bonuses but before income tax.
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Baekhyun Company distributes annual bonuses to its sales manager and two sales supervisors. The company reported P2,000,000 profit for 2021 before bonuses and income tax. Income tax rate is P30%. The bonus is 15% of profit after bonuses but before income tax.
How much is the total amount of bonus?
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- Suppose that Blake Companys total pretax difference from a change to FIFO was 100,000 and the company pays a bonus of 5% of its income before income taxes and bonus to employees. If Blake pays an additional bonus | based on the change in income, would it recognize any expense? If so, when and how much?ABC Co. distributes annual bonus to its sales manager. The company reported P2 million profit for 2021 before bonus and income tax. Income tax of ABC Co. is 25%.What is the amount of bonus if bonus is computed at 10% of profit after taxes and bonuses?SESAME-SEED Company has a bonus agreement that provides that the senior managers will receive an annual bonus of 12% of the net income after bonus and tax. The income tax rate is 30%. The senior managers received ₱250,000 for the current year as a bonus. What is the net income before bonus and tax? ANSWER IN GOOD ACCOUNTING FORM. THANK YOU :)
- SESAME-SEED Company has a bonus agreement which provides that the senior managers will receive an annual bonus of 12% of the net income after bonus and tax. The income tax rate is 30%. The senior managers received ₱250,000 for the current year as bonus. What is the net income before bonus and tax?A. Ferrero Company has an agreement to pay its sales manager a bonus of 10% of the income after bonus and tax.The income for the year before bonus and tax is P5,250,000. The income tax rate is 20% of income after bonus. 1. What is the bonus for the year?A company is considering two different proposals for computing the bonus for its new company president. The first plan states that the bonus would be equal to 6% of profits after the bonus but before tax have been deducted. The second method is based on profits after both tax and bonus have been deducted, at the rate of 12%. Income before income tax and bonus for 2021 is P 9,000,000. Income tax rate is 35%. How much is the amount of bonus under the second plan? How much is the amount of bonus under the first plan?
- ABC Company has an agreement to pay its sales manager a bonus of 5% of the income after bonus and after tax. The income for the current year before bonus and tax is P5,250,000. The income tax rate is 30% of income after bonus. What amount should be reported as bonus of the sales manager for the current year?MY MEDALS ARE SHOOKT ENTERPRISE distributes annual bonuses to its sales manager and two sales agents. The company reported P2,000,000 profit for 2019 before bonuses and taxes. Income taxes average 30%. How much is the total amount of bonus if bonus of each is computed at 15% of profit after taxes and bonuses? a. P190,045 b. P397,476 c. P479,087 d. P570,135 Use the same information in MC 10. How much should the sales manager and each sales agent receive respectively, if the sales manager gets 15% and each sales agent gets 10% of profit after bonuses but before income taxes? a. P857,143 and P571,428 b. P518,519 and P518,518 c. P222,222 and P148,148 d. P195,000 and P130,000ABC Corporation pays bonuses to its Chief Finance officer. The company had profit for 2021 of P 5,000,000 before bonuses and income taxes. Assuming ABC corporation gives 10% bonus after bonus and income taxes, how much would be the income taxes? P 327,102.80 P 1,401,869.16 P 3,247,422.68 P 3,271,028.04
- Rainmian Company has agreed to pay its sales manager a bonus of 5% of his or her earnings after bonuses and taxes. Before bonuses and taxes, the annual income is USD5,250,000. The income tax rate is 30% of after-bonus earnings. If the bonus has not yet been paid, how much current liability for bonus should be reported at the end of the year?ABC Corporation pays bonuses to its Chief Finance officer. The company had profit for 2021 of P 5,000,000 before bonuses and income taxes. Assuming ABC corporation gives 10% bonus after income taxes, how much would be the bonus payable recognized if the income tax rate is 30%? P 360,824.74 P 1,391,752.58 P 3,247,422.68 P 339,805.83ABC Corporation pays bonuses to its Chief Finance officer. The company had profit for 2021 of P 5,000,000 before bonuses and income taxes. Assuming ABC corporation gives 10% bonus after income taxes, how much would be the bonus payable recognized if the income tax rate is 30%? possible answers P 360,824.74 P 1,391,752.58 P 3,247,422.68 P 339,805.83