9. Georgy, Inc. has an incentive compensation plan under which the sales manager receives a bonus equal to 10 percent of the company's income before deductions for bonus but after deduction for income taxes. Income before bonus and income taxes is P400,000. The effective income tax rate is 30 percent. How much is the bonus (rounded to the nearest peso)? a. 40,000 b. 30,108 c. 28,866 d. 26,168 (Adapted)

9. Georgy, Inc. has an incentive compensation plan under which the sales manager receives a bonus equal to 10 percent of the company's income before deductions for bonus but after deduction for income taxes. Income before bonus and income taxes is P400,000. The effective income tax rate is 30 percent. How much is the bonus (rounded to the nearest peso)? a. 40,000 b. 30,108 c. 28,866 d. 26,168 (Adapted)

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter9: Current Liabilities And Contingent Obligations

Section: Chapter Questions

Problem 15E

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