Zechariah Company provides an incentive compensation plan under which its president received a bonus equal to...

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Zechariah Company provides an incentive compensation plan under which its president received a bonus equal to 10% of the corporation's income before income tax but after deduction of the bonus. If the tax rate is 30% and net income after bonus and income tax was P4,680,000, what was the amount of the bonus? Round your final answer only to the nearest peso Zechariah Company provides an incentive compensation plan under which its president received a bonus equal to 10% of the corporation's income before income tax but after deduction of the bonus. If the tax rate is 30% and net income after bonus and income tax was P4,680,000, what was the amount of the bonus? Round your final answer only to the nearest peso

Answer rating: 100% (QA)

To find the amount of the bonus we can set up the equation as follows Let x be the bonus The presi... View the full answer