Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 33 2 pts A company is considering two different proposals for computing the bonus for its new company president. The first plan states that
Question 33 2 pts A company is considering two different proposals for computing the bonus for its new company president. The first plan states that the bonus would be equal to 6% of profits after the bonus but before tax have been deducted. The second method is based on profits after both tax and bonus have been deducted, at the rate of 12%. Income before income tax and bonus for 2021 is P 9,000,000. Income tax rate is 35%. How much is the amount of bonus under the second plan? Question 34 2 pts On December 31, 2019, A Company issued 5.000 of 8% 10-year P1,000 face value bonds with detachable warrants at 110. Each bond carried a detachable warrant for 10 ordinary shares of P100 par value at a specified option price of P120. Immediately after Issuance. the market value of the bonds without warrants was P4.800,000 and the market value of the warrants was P1.200,000. On December 31, 2019. what is the carrying amount of bonds payable? Question 35 2 pts
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started