Use the following information for the next three (3) questions: Ralts Company decided to offer a...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Use the following information for the next three (3) questions: Ralts Company decided to offer a bonus to its branch manager at 20% of net income earned by the branch during the current year. The income earned by the branch during the current year. The income for the branch was P3,090,000 before tax and before bonus for the current year. The income tax rate is 30%. QUESTIONS: 6) How much is the bonus if the bonus is based on the net income before bonus and tax? A. 360,500 B. 515,000 C. 379,474 D. 618,000 7) How much is the bonus if the bonus is based on the net income after bonus but before tax? A. 360,500 B. 515,000 C. 379,474 D. 618,000 8) How much is the bonus if the bonus is based on the net income after bonus and tax? C. 379,474 D. 618,000 А. 360,500 В. 515,000 Use the following information for the next three (3) questions: Ralts Company decided to offer a bonus to its branch manager at 20% of net income earned by the branch during the current year. The income earned by the branch during the current year. The income for the branch was P3,090,000 before tax and before bonus for the current year. The income tax rate is 30%. QUESTIONS: 6) How much is the bonus if the bonus is based on the net income before bonus and tax? A. 360,500 B. 515,000 C. 379,474 D. 618,000 7) How much is the bonus if the bonus is based on the net income after bonus but before tax? A. 360,500 B. 515,000 C. 379,474 D. 618,000 8) How much is the bonus if the bonus is based on the net income after bonus and tax? C. 379,474 D. 618,000 А. 360,500 В. 515,000
Expert Answer:
Answer rating: 100% (QA)
6 BONUS IF BONUS IS BASED ON NET INCOME BEFORE BONUS AND BEFORE TAX AS GIVEN I... View the full answer
Related Book For
Advanced Financial Accounting
ISBN: 978-0078025624
10th edition
Authors: Theodore E. Christensen, David M. Cottrell, Richard E. Baker
Posted Date:
Students also viewed these accounting questions
-
Use the following information for the next three problems, PV of Year Cash Flow Cash Flows 1 $14,000 $12,726 2 $14,000 $11,564 3 $10,000 $7,510 4 $10,000 $6,830 5 $8,000 $4,968 A). What is the NPV of...
-
Use the following information for the next three (3) questions: Serpent Home Depot carries wide variety of promotional techniques to attract customers. Kitchen and home aopliances are sold in a...
-
Use the following information for the next ten (10) questions: On August 1, 20x1, S and U formed a partnership upon contribution of P6,000,000 and P9,000,000, respectively with capital interest of...
-
The coordinates of points A and B are given below: Easting Northing Height (meter) (meter) (meter) 41.676 66.446 225.973 127.066 31.063 185.401 Point A B What is the bearing of AB (from A to B)?...
-
For each of the following circumstances, give the letter item(s) indicating the accounting principle involved. Some letters may be used more than once, and some may not be used at all. A. Continuity...
-
Consider the circuit in Figure 21.51, and suppose that the emfs are unknown and the currents are given to be I 1 = 5.00 A, I 2 = 3.0 A, and I 3 = -2.00 A. (a) Could you find the emfs? (b) What is...
-
Search the Internet to identify market segments other than HB-LED that use die attach adhesives. Identify the different products in those market segments.
-
Battery Limited uses a perpetual inventory system. The inventory records show the following data for its first month of operations: Calculate the cost of goods sold and ending inventory using (a)...
-
The bars AB and AC are joined by a pin at A and a horizontal cable. The vertical cable carrying the 200 kg mass is attached to the pin at A. Determine the tension in the horizontal cable. Neglect the...
-
An investor, wants to know how two portfolios are performing in the market: 7% Y (3%) 12% Probability Market portfolio 0.40 0.20 15% 0.40 Beta factor 10% 18% Portfolio X 1.30 10% 8% 4% 0.75 1 The...
-
3. An oligopolist in a market where rivalry prevails is operating at the kink in its demand curve, with a daily output of 400 units and a price of $5. a. At this output level, what is the shape of...
-
What are the major tools for valuation, and how would they be different from each other?
-
How would a firm determine its needs of cash? Give an example to illustrate your answer.
-
What is the DuPont model? Explain briefly.
-
Describe the general strategy for cash management and list some of its major objectives.
-
What is the difference between debtasset ratio and solvency ratio and how can they be interpreted?
-
You are given the following two products to evaluate and are asked to choose the best firm marketing investment. Show your work and why you selected product 1 or product 2. 1- Provide a thorough...
-
Which of the ocean zones shown would be home to each of the following organisms: lobster, coral, mussel, porpoise, and dragonfish? For those organisms you identify as living in the pelagic...
-
Teresa Corporation acquired all the voting shares of Sally Enterprises on January 1, 20X4. Balance sheet amounts for the companies on the date of acquisition were as follows: Sally Enterprises...
-
During the recent recession, Polydorous Inc. accumulated a deficit in retained earnings. Although still operating at a loss, the company posted better results during 20X1. Polydorous is having...
-
MCI WorldCom, Inc. (later MCI), was known as a high-flying company, having had its roots in a small local company and rising to one of the worlds largest communications giants. The companys...
-
Understanding the Feds actions that are needed to stabilize the interest rate The diagram below shows three different money demand curves and a target interest rate i*. Fill in the table below using...
-
This section looks at US recessions over the past 60 years. To work out this problem, first obtain quarterly data on US output growth for the period 1960 to the most recent data from www.bea.gov....
-
This question asks you to examine the movements of investment and consumption before, during and after the recession of 2001. It also asks you to consider the response of investment and consumption...
Study smarter with the SolutionInn App