ble Company provides an incentive compensation plan under which its president received a bonus qual to 10% of the corporation's income before income tax but after deduction of the bonus. the tax rate is 35% and net income after bonus and income tax was P2,600,000, what was the amoun f the bonus? 260,000 400,000 440,000 200,000

ble Company provides an incentive compensation plan under which its president received a bonus qual to 10% of the corporation's income before income tax but after deduction of the bonus. the tax rate is 35% and net income after bonus and income tax was P2,600,000, what was the amoun f the bonus? 260,000 400,000 440,000 200,000

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 8RE: Borat Company gives annual bonuses after the end of the year. Borat computes the bonuses based on...

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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?
Grevilla Corporation is a manufacturing company. The corporation has accumulated earnings of $950,000, and it can establish reasonable needs for $400,000 of that amount. Calculate the amount of the accumulated earnings tax (if any) that Grevilla Corporation is subject to for this year. $_____________
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