9. Georgy, Inc. has an incentive compensation plan under which the sales manager receives a bonus equal to 10 percent of the company's income before deductions for bonus but after deduction for income taxes. Income before bonus and income taxes is P400,000. The effective income tax rate is 30 percent. How much is the bonus (rounded to the nearest peso)? a. 40,000 b. 30,108 c. 28,866 d. 26,168 (Adapted)

9. Georgy, Inc. has an incentive compensation plan under which the sales manager receives a bonus equal to 10 percent of the company's income before deductions for bonus but after deduction for income taxes. Income before bonus and income taxes is P400,000. The effective income tax rate is 30 percent. How much is the bonus (rounded to the nearest peso)? a. 40,000 b. 30,108 c. 28,866 d. 26,168 (Adapted)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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