ABC Quezon Avenue, Inc. is a dealer of trucks and automobiles. ABC distributes annual bonuses to its Vice president for Sales department and three division managers, namely: truck divison, SUV division, and AUV and Sedan Division. The company reported P 12,000,000 profit for year 2019 before bonuses and income tax. Income tax rate is 30%. How much is the total bonus expense that should be recognized for the vice president and each division manager, if the vice president gets 3% and each division manager gets 1%of profit after bonuses before income taxes? D P 679,246 O P 169,811 O P 765,956 O P 339,623

ABC Quezon Avenue, Inc. is a dealer of trucks and automobiles. ABC distributes annual bonuses to its Vice president for Sales department and three division managers, namely: truck divison, SUV division, and AUV and Sedan Division. The company reported P 12,000,000 profit for year 2019 before bonuses and income tax. Income tax rate is 30%. How much is the total bonus expense that should be recognized for the vice president and each division manager, if the vice president gets 3% and each division manager gets 1%of profit after bonuses before income taxes? D P 679,246 O P 169,811 O P 765,956 O P 339,623

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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