Gail , Inc. has a bonus plan covering all employees. The total bonus is equal to 10% of Gail 's preliminary ( pre-bonus, pretax) income reduced by the income tax ( computed on the preliminary income for 2019 is P 1,000,000 and the income tax rate is 32%. How much is the bonus for 2019? * A.P 68,000 B.P 70,248 C.P 61,200 D.P 100,000
Gail , Inc. has a bonus plan covering all employees. The total bonus is equal to 10% of Gail 's preliminary ( pre-bonus, pretax) income reduced by the income tax ( computed on the preliminary income for 2019 is P 1,000,000 and the income tax rate is 32%. How much is the bonus for 2019? * A.P 68,000 B.P 70,248 C.P 61,200 D.P 100,000
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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Gail , Inc. has a bonus plan covering all employees. The total bonus is equal to 10% of Gail 's preliminary ( pre-bonus, pretax) income reduced by the income tax ( computed on the preliminary income for 2019 is P 1,000,000 and the income tax rate is 32%. How much is the bonus for 2019? *
A.P 68,000
B.P 70,248
C.P 61,200
D.P 100,000
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