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How much should the vice president and each division manager receive, respectfully, if the vice president gets 3% and each division manager gets 1% of profit after bonuses but before income taxes? *

How much should the vice president and each division manager receive, respectfully, if the vice president gets 3% and each division manager gets 1% of profit after bonuses but before income taxes? *

FINANCIAL ACCOUNTING
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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Tokwa Inc. is a dealer of Kia trucks and automobiles. Tokwa distributes annual bonuses to its Vice President for Sales and three division managers, namely: Truck Division, SUV Division, and AUV and Sean Division. The company reported P12,000,000 profit for 2020 before bonuses and income tax. The income tax rate is 30%. How much should the vice president and each division manager receive, respectfully, if the vice president gets 3% and each division manager gets 1% of profit after bonuses but before income taxes? * O P339,623 and P113,208 O P382,979 and P127,659 O P169,811 and P169,911 O P191,489 and P191,489
Transcribed Image Text:Tokwa Inc. is a dealer of Kia trucks and automobiles. Tokwa distributes annual bonuses to its Vice President for Sales and three division managers, namely: Truck Division, SUV Division, and AUV and Sean Division. The company reported P12,000,000 profit for 2020 before bonuses and income tax. The income tax rate is 30%. How much should the vice president and each division manager receive, respectfully, if the vice president gets 3% and each division manager gets 1% of profit after bonuses but before income taxes? * O P339,623 and P113,208 O P382,979 and P127,659 O P169,811 and P169,911 O P191,489 and P191,489
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