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LBM Partnership, whose partners are Len-Len and Baby M, realized a net income of P240,000 before bonus and income tax. A bonus of 20% is
LBM Partnership, whose partners are Len-Len and Baby M, realized a net income of P240,000 before bonus and income tax. A bonus of 20% is allowed to its managing partner, Len-Len. The partnership is subject to 30% income tax. Compute for the bonus under each of the following cases: 1. Bonus to partners is based on Net Income before bonus and income tax 2. Bonus to partners is based on Net Income after bonus but before income tax 3. Bonus to partners is based on Net Income before bonus but after income tax 4. Bonus to partners is based on Net Income after bonus and income tax
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