Question
11. Gregarious Company agrees to pay Ian Dustrias a 10 percent bonus based on its net income of $ 100,000 after deducting both the bonus
11. Gregarious Company agrees to pay Ian Dustrias a 10 percent bonus based on its net income of $ 100,000 after deducting both the bonus and income taxes. Gregarious Company's tax rate is 30 percent. What is the amount of Ian's bonus?
A. $ 6,796
B. $ 7,000
C. $ 6,542
D. $ 10,000
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Financial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
11th Edition
1119594596, 978-1119594598
