The net income for 2007 of A Company before any deduction for bonus and income tax amounted to 2,500,000. Under an incentive compensation plan, the general manager is entitled to a year-end bonus of 10% of the net income before deducting the bonus but after deducting the income tax. Income tax rate is 35% The manager's bonus for 2007 was - Group of answer choices 164, 729 168, 394 157,620 162,500

The net income for 2007 of A Company before any deduction for bonus and income tax amounted to 2,500,000. Under an incentive compensation plan, the general manager is entitled to a year-end bonus of 10% of the net income before deducting the bonus but after deducting the income tax. Income tax rate is 35% The manager's bonus for 2007 was - Group of answer choices 164, 729 168, 394 157,620 162,500

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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