Use the information for the next four (4) questions. XYZ Company has an agreement to pay the sales manager a bonus of 5% of the entity's earnings. The income for the year before bonus and tax is P7,875,000 The income tax rate is 30% of income after bonus. How much is the bonus, assuming bonus is a certain percent of the income before bonus and before tax? How much is the bonus, assuming bonus is a certain percent of income after bonus but before tax? How much is the bonus, assuming bonus is a certain percent of income after bonus and after tax? How much is the bonus, assuming bonus is a certain percent of income after tax but before bonus?

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: Use the net FUTA tax rate of 0.6% on the first $7,000 of taxable wages. Niemann Company has a SUTA…

A: FUTA tax for the year = Taxable payroll x  FUTA tax rate SUTA tax for the year = Taxable payroll x…

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: Libra Corporation’s president has a profit-sharing agreement with the company. The agreement states…

A: Bonus Payable = 10% x Net Income before deduction of bonus but after tax

Q: After three profitable years, Cairo Company decided to offer a bonus to the branch manager of 25% of…

A: Bonus is given to manager  as part of salary and will be treated as expense for business. When bonus…

Q: 1.ABC Company has an incentive compensation plan that pays its president a bonus equal to 10% of the…

A: Since you have asked multiple questions we can solve only first question for you if you want to get…

Q: year before bonus and tax is P5,250,000. The income tax rate a bonus of 5% of the entity's earnings.…

A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: Grotto Ltd has already sent $19,600 to the ATO in respect to PAYG, and this figure shown as a debit…

A: PAYG stands for "Pay as you Go", it is a installment method of paying income tax to…

Q: P a y t o n company payroll for the year is $747,930. Of this amount, $469,230 is for wages paid e x…

A: Total unemployment taxes=Net Futa tax+Net suta tax

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

A: ANSWER INTRODUCTION  HERE IN THIS QUESTION BONUS PAID TO SALES MANAGER IS 5% OF THE INCOME AFTER…

Q: KL Corporation’s president has a profit-sharing agreement with the company. The agreement states…

A: Base Bonus = (Net Income - Tax) X 10% Base Bonus = [Net Income - [(Net Income - Bonus)] X Tax rate )…

Q: The sales manager of the Walbrook Company receives an annual bonus of 10% of net income after bonus…

A: Bonus refers to monetary incentives that are given by employers to employees to motivate them to…

Q: A company made an additional (incremental) income of $10.000 during the last week of the year. This…

A: Answer:-  Effective tax rate:- The effective tax rate can be defined as the percentage of an…

Q: EF Enterprises realized a profit of 240,000 for the year. Fajardo, the managing partner, is allowed…

A: Bonus is the term which is described as the payment that is generally made to the employees in…

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

A: A bonus is monetary remuneration that exceeds the recipient's usual payment expectations. A…

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: SOLUTION-   BONUS- IT IS A FINANCIAL COMPENSATION THAT IS ABOVE AND BEYOND THE NORMAL PAYMENT…

Q: Knicks Company requires nonrefundable advance payments with special orders from customers for…

A: Note: As per the policy, we are supposed to solve one question at a time. Since the requirement of…

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: A company wants to pay a bonus to an employee so that the net pay is $10,000. The federal income tax…

A: Federal income tax, State income tax and FICA tax are to be deducted from the bonus paid.     We…

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: ble Company provides an incentive compensation plan under which its president received a bonus qual…

A: The net income before tax can be computed from net income after tax using rate of income tax.

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

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

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: 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: 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: The terms and conditions of employment with The Pleasing Company include entitlement to share in the…

A: There is a legal obligation to allocate profits to the bonus pool. An allocation should be made at…

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

A: Bonus = [(Income before bonus and tax - Bonus) x (1 - tax rate)] x bonus rate

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: Income after tax = Income before bonus and tax - bonus - tax

Q: 2. An entity reports profit before bonus and taxes of P1,800.00 during the year. The entity has an…

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

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 income summary account has a debit balance of P45,000. The agreement between Emo and Ted include…

A: A partnership is a kind of business structure in which two or more people agree to carry out…

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: a Company has an agreement to pay its sales manager a bonus of 5% of income a ter tax. The income…

A: The amount of current liability for bonus = amount of bonus due to the sales manager for the year…

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

A: Net income before taxes as per LIFO method = Net income /(100%- tax rate)

Q: A retailer has a gross sales of P1,400,000 with cost of sales of P560,000 and allowable deductions…

A: Tax is paid by the taxpayer on the taxable income. A taxpayer is the individual who has earned an…

Q: An accountant must pay taxes and payroll bonuses to employees from the company’s profits of…

A: Company's Profit =$2000,000

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

A: