ble Company provides an incentive compensation plan under which its president received a bonus qual to 10% of the corporation's income before income tax but after deduction of the bonus. the tax rate is 35% and net income after bonus and income tax was P2,600,000, what was the amoun f the bonus? 260,000 400,000 440,000 200,000

ble Company provides an incentive compensation plan under which its president received a bonus qual to 10% of the corporation's income before income tax but after deduction of the bonus. the tax rate is 35% and net income after bonus and income tax was P2,600,000, what was the amoun f the bonus? 260,000 400,000 440,000 200,000

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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Black Company paid wages of $180,000 of which $40,000 was qualified for the work opportunity tax credit under the general rules. Black Company's deduction for wages for the year is: a.$180,000. b.$140,000. c.$166,000. d.$164,000.
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