Natural Company had an arrangement to pay the sales manager a bonus of 5%of the entity's earnings.
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Question:
Natural Company had an arrangement to pay the sales manager a bonus of 5%of the entity's earnings. The income for the year before bonus and tax was 5,250,000. The income tax rate is 25%. Determine the bonus if bonus is income before bonus and before tax.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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