Question: One branch of Galssy Company earned an income of P560,000 before bonus and taxes for 2020. The applicable tax rate for Galssy is 25%.

One branch of Galssy Company earned an income of P560,000 before bonus and taxes for 2020. The applicable tax rate for Galssy is 25%.

• 9% of income after bonus and taxes

•7.5% of income after bonus but before taxes

•8% of income before bonus but after taxes

• 7% of income before bonus and taxes


Of the four bases for bonus expense, how much would yield the lowest amount?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

To determine the lowest bonus expense for Galssy Company we need to calculate the bonus amount for e... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

as soon as possible please ???? Lamonda Corp. uses a job order cost system. On April 1, the accounts had balances as shown in the Taccounts below The following transactions occurred during April: (a)...

Q:

One metric that I have seen misunderstood is the average cost of trainer per training class. At 10% of $1,600 ($160) If an individual needs the training class there is an additional fee of $250...

Q:

Answer all the questions below If you assume responsibility for a mature, high-achieving confident team, which of the following is generally the best approach to take: stamp your authority on the...

Q:

Use the p-value decision rule to indicate your decision on the following p-values at ? = 0.01 Group of answer choices p = 0.975 [ Choose ]Reject the null hypothesisAccept the null hypothesis p =...

Q:

examine to answer the following questions for President Biden : What are the federal effective tax rates for each of the case study? What items reported in their itemized (if not standard)...

Q:

Williams Santana, Inc. is a manufacturer of high-tech industrial parts that was started in 2009 by two talented engineers with little business training in 2021, the company was acquired by one of its...

Q:

Please complete the following reports for "kohl's 2017 financial statement" note that the suggested reports have numbers filled in but they do not relate. (Ignore where it says JCPenney on top of the...

Q:

AutoSave IST - BUSSIAF Assignment Part 2/sx Saved akshayspawar222 outlook.com + File Home Insert Page Layout Formulas Data Review View Help Share Comments X cut Calitri 11 -A A . Autosum Paste Copy...

Q:

Profitability ratios: o Gross profit margin o Net profit margin o Return on stockholders' equity Liquidity ratios: o Current ratio o Quick ratio o Inventory turnover Leverage ratios: o Debt-to-assets...

Q:

Should Jamaica use crypto currency as legal tender?

Q:

Assume that our records include the following two LIFO inventory cost pools: Units Cost/Unit BOQ 840 Purchase #1 1,120 1,960 At the beginning of the quarter (BOQ), we report 840 units on hand at a...

Q:

Financial Inclusion and Consumer Behavior in Zambia, This theme captures the essential role of literacy and stakeholder campaigns. The inclusion of 2 0 2 3 mobile money subscriber growth offers a...

Q:

A discrete random variable X has mean u and variance o? . Define function f : R R by f(t) = E((X t)) Express the random variable f(X) as a polyno- mial with respect to X. Show that E(f(X)) = 202 .

Q:

A large block P attached to a light spring executes horizontal, simple harmonic motion as it slides across a frictionless surface with a frequency f. Block Brests on it as shown in Figure P15.65, and...

Q:

A 4 kg swing in a vertical circle at the end of the chord 1 m long. Find out the maximum speed at which it can swing if chord can sustain maximum tension of 140 N.

Q:

Let A = {1,2,3,4} and B = {a, b, c, d}. Define F = {(1, a), (2, b), (3, c), (4, d)} G = {(1, a), (2, c), (3, b), (3, c), (4, d)} H = {(1,a), (2, b), (3, b), (4, d)} (a) Is Fa function or only a...

Q:

One of the biggest challenges to decision making is making "the best choice" describe what the "best choice" means to you as a manager. Specifically address how you determine what constitutes the...

Q:

Management engages in the five business processes to do which of the following? (More than one answer may be correct.)Multiple select question.Measure performanceImplement strategiesEnsure compliance...

Q:

A tank in the form of a right-circular cylinder of radius 2 feet and height 10 feet is standing on end. If the tank is initially full of water and water leaks from a circular hole of radius 1/2 inch...

Q:

In problem the indicated function y 1 (x) is a solution of the associated homogeneous equation. Use the method of reduction of order to find a second solution y 2 (x) of the homogeneous equation and...

Q:

Determine by inspection at least one solution of the given differential equation. 1. y'' = y' 2. y' = y(y 3)

Q:

Calculate the missing quantities four-figure accuracy.

Q:

Calculate the missing quantities four-figure accuracy.

Q:

If the C$ appreciates (from the value in Table 3.2) by C$0.0017 relative to the , what will be the new value for per C$1.00?