The manager of Sheffield is given a bonus based on net income before taxes. The net income after taxes is $63300 for FIFO and $52100 for LIFO. The tax rate is 30%. The bonus rate is 20%. How much higher is the manager's bonus if FIFO is adopted instead of LIFO? $16000 $22400 $3200 $11200

Q: Hua Company has an agreement to pay its sales manager a bonus of 5% of income after bonus and after…

A: Tax means the mandatory payment made to government for the income earned. Bonus means the amount…

Q: 9. Georgy, Inc. has an incentive compensation plan under which the sales manager receives a bonus…

A: Bonus = (Income before bonus but after income tax)*10%

Q: SESAME-SEED Company has a bonus agreement which provides that the senior managers will receive an…

A: Bonus is the amount of additional compensation or amounts that are payable to employees on account…

Q: Calculate income tax payable or repayable for the tax year 2020/21.

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A: Income after deduction of the bonus but before tax = Income before the bonus and income tax / ( 1 +…

Q: Mattola Company is giving each of its employees a holiday bonus of $100 on December 13, 20-- (a…

A: Taxable income: It is the part of the income on which tax to be paid to state and tax authorities to…

Q: Jennifer, the manager of Pharoah Company is given a bonus based on net income before taxes. The net…

A: The net income before tax is calculated as sum of net income and income tax.

Q: he ABC Company enjoys profitable operations for its past ten years of existence. The company…

A: Solution We are required to calculate the general manager's bonus for 2019 under Alternative 2 Given…

Q: Jax Company provides an incentive compensation plan under which its president received a bonus equal…

A: Amount of the bonus = 10% x income before income tax but after deduction of the bonus…

Q: HUM., Co. gave fringe benefits to employees as follows: To its Clerks and Janitors P 100,000 To its…

A: solution concept Fringe benefit to rank and file employee are not subject to fringe benefit tax…

Q: Required: Compute the sales manager's bonus and the income tax expense for the Walbrook Company.…

A: Solution:- Given, Income before bonus an tax = $400,000 Tax rate = 40%  Bonus rate = 10%

Q: The manager of X Corp has the following benefits: 13th month pay and other benefits - P100,000; De…

A:

Q: his Company grants its managerial employees bonus in the form of profit sharing. Information on…

A: Given information   Profit before tax = P 4,000,000 Bonus rate = 10%  Income tax = 30% After bonus…

Q: How much is the amount of bonus under the second plan? How much is the amount of bonus under the…

A: Suppose B is the amount of Bonus Under Second Plan, B = {(Profits before bonus and tax - B) x (1 -…

Q: Natural Company has an agreement to pay the sales manager a bonus of 10% of the entity's earnings.…

A: The bonus can be paid to manager on different conditions as before bonus or after bonus.

Q: JIMIN Company has an agreement to pay the executive officers a bonus of 5% of the entity’s earnings.…

A: Bonus is the additional amount given to owners or partners in the business for their outstanding…

Q: Amazing Company enjoys a profitable operation for its past ten years of existence. The company…

A: The question ask to calculate total liability related to the bonus transactions under declared…

Q: Under an incentive companesation plan, the general manager of Jelly is entitled to a year-end bonus…

A: A bonus instalment is normally made to workers notwithstanding their base compensation as a…

Q: Berry Co/ provides an incentive compensation plan under which its president receives a bonus equal…

A: The bonus amount is 20% of after tax and bonus amount. The following formula would be applied to get…

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A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Logan White is general manager of Moonwalk Tanning Salons. During 2010, White worked for the company…

A: When an employer withholds money from an employee's paycheck for a number of reasons, most typically…

Q: V Co. has an agreement to pay its sales manager a bonus of 7.5% of the company's earnings due to an…

A: Working note: Let the amount of bonus be denoted by x. The income after tax will be: Particular…

Q: V Co. has an agreement to pay its sales manager a bonus of 7.5% of the company's earnings due to an…

A: Calculation of Profit before tax : Net Income = ₱6,890,500 Less : Bonus = (₱480,733)…

Q: DJ Inc. has a bonus plan covering all employees. The total bonus is equal to 10% of DJ’s preliminary…

A: Tax means the mandatory payment made by assesse to the government without expecting anything…

Q: Baekhyun Company distributes annual bonuses to its sales manager and two sales supervisors. The…

A: Bonus is the additional pay that a company pays to its employees over and above their regular…

Q: Ronald Company has an incentive compensation plan under which a branch manager received 10% of the…

A: As posted multiple independent questions we are answering only first question kindly repost the…

Q: ABC Co. distributes annual bonus to its sales manager. The company reported P2 million profit for…

A: The net income after tax is calculated as follows: Net income after tax = Net income before income…

Q: FI Company offered a bonus to its branch manager of 25% of income over P1,000,000 earned by the…

A: Bonus amount = (Income before tax - Bonus amount - P1,000,000) x Bonus rate Let the bonus amount = a

Q: ABC Co. provides an incentive compensation plan under which its president receives a bonus equal to…

A: Pretax Income =  Gross Revenue – Operating, Depreciation, and Interest Expenses + Interest Income

Q: Ronald Company has an incentive compensation plan under which a branch manager received 10% of the…

A: Let, Bonus = X Bonus = (Income before bonus and tax - Bonus) x 10%

Q: The ABC Company enjoys profitable operations for its past ten years of existence. The company…

A: Alt 1 : 8% bonus  Alt 2 : 5% bonus  Alt 3 : 3% bonus    Profit before tax = P 8,000,000

Q: ABC Co. distributes annual bonus to its sales manager. The company reported 2 million profit for…

A: The net profit after tax is calculated as difference between net income and income tax.

Q: If ABC Company provide bonus to one of its officer of 20% on profit after bonus and income taxes,…

A: Let us take bonus = x

Q: JIMIN Company has an agreement to pay the executive officers a bonus of 5% of the entity’s earnings.…

A: The bonus is computed as follows

Q: If ABC Company provide bonus to one of its officer of 20% on profit after bonus and income taxes,…

A: Let bonus = a so, bonus = [(profit before bonus and taxes - bonus) x (1 - tax rate)] x 20% a =…

Q: 7. Washington Corporation provides an incentive compensation plan under which its president is to…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: James company has an incentive compensation plan under which a branch manager received 10% of the…

A: Bonus ( after deduction of the bonus but before deduction of income tax ) = Net income×Rate100 +…

Q: uan dela Cruz, a newly hired operations manager of ABC Company, wondered how much would be his…

A: Tax on compensation income refers to the tax levied on compensation received by the employee from…

Q: One branch of Galssy Company earned an income of P560,000 before bonus and taxes for 2020. The…

A:

Q: The manager of Wildhorse is given a bonus based on net income before taxes. The net income after…

A: Wrorking notes :-                             Net income after taxes…

Q: Wallington Company has 100 employees, each earning $525.25 a week. OASDI Amount of OASDI tax…

A: PLEASE LIKE THE ANSWER, YOUR RESPONSE MATTERS          FICA taxes      Employee No.…

Q: V Co. has an agreement to pay its sales manager a bonus of 7.5% of the company's earnings due to an…

A: Given that, V Co. has an agreement to pay its sales manager a bonus of 7.5% income for the year…

Q: The bonus agreement of Christian Company provides that the general manager shall receive an annual…

A: Income:- Income is the proportion of money a company maintains internally after reimbursing all…

Q: JIMIN Company has an agreement to pay the executive officers a bonus of 5% of the entity’s earnings.…

A: Bonus is the additional amount given to owners or partners in the business for their outstanding…

Q: Strand Inc. provides an incentives compensation plan under which its president receives a bonus…

A: Bonus = (Income before tax and bonus - Bonus - P600,000 ) x bonus % Let, Bonus = a

Q: P22,076 P18,846 Compute the grossed-up monetary value of the fringe benefits P63,076 P41,000

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: SESAME-SEED Company has a bonus agreement which provides that the senior managers will receive an…

A: Let, Income before bonus and tax = X so, Income after tax = (X - bonus) x (1 - tax rate)

Q: Entity A has an incentive compensation plan under which the sales manager receives a bonus equal to…

A: