Nature Company has an agreement to pay each sales manager a bonus of 5% of the entity's earnings and each sales personnel 2%. Nature has one sales manager and two sales personnel. The income for the year before bonus and tax is P5,250,000. The income tax rate is 30% of income after bonus. The bonus is based on net income before bonus but after tax. How much is the bonus of each sales personnel? (round the final answer to the nearest whole number)

Nature Company has an agreement to pay each sales manager a bonus of 5% of the entity's earnings and each sales personnel 2%. Nature has one sales manager and two sales personnel. The income for the year before bonus and tax is P5,250,000. The income tax rate is 30% of income after bonus. The bonus is based on net income before bonus but after tax. How much is the bonus of each sales personnel? (round the final answer to the nearest whole number)

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter22: Accounting For Changes And Errors.

Section: Chapter Questions

Problem 6RE: Suppose that Blake Companys total pretax difference from a change to FIFO was 100,000 and the...

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