FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Tanya Co. provides an incentive compensation plan under which its chief officer executive officer receives a bonus equal to 10% of the company's income in

image text in transcribed

Tanya Co. provides an incentive compensation plan under which its chief officer executive officer receives a bonus equal to 10% of the company's income in excess of P880,000 before bonus and income tax. If income after bonus and after tax for 2020 amounted to P2,200,000 and income tax rate is 30%, the amount of bonus would be

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Internal Auditing Assurance And Advisory Services

Internal Auditing Assurance And Advisory Services

Authors: Kurt R. Reding, Paul J. Sobel, Urton L. Anderson, Michael J. Head, Sridhar Ramamoorti, Mark Salamasick, Cris Riddle

3rd Edition

0894137409, 978-0894137402

More Books

Students also viewed these Accounting questions

Question

★★★★★
Newgen Company purchased merchandise on account from a supplier for $9,000, terms 2/10, n/30. Newgen Company returned $1,200 of the merchandise and received full credit. a. If Newgen Company pays the...

Answered: 1 week ago

Question

★★★★★
How can unconscious influences affect consumer attitudes and behavior in low effort situations?

Answered: 1 week ago

Question

★★★★★
=+oping software. Is SPI for you? Explain your answer.

Answered: 1 week ago

Question

★★★★★
Subsequent Events and Subsequently Discovered Facts. Michael Ewing is auditing the financial statements of Dallas Company for the year ended December 31, 2014. In concluding the process of gathering...

Answered: 1 week ago

Question

★★★★★
1 0 . Ellen asks you to give her a list of the books that each author wrote. Write a complete SQL statement to provide the information to Ellen, including author names, book titles, publishers, and...

Answered: 1 week ago

Question

★★★★★
answer both questions. 1-A companys year-end balance in accounts receivable is $2,500,000. The allowance for uncollectible accounts had a beginning-of-year credit balance of $41,000. An aging of...

Answered: 1 week ago

Question

★★★★★
A double-pipe heat exchanger operating in the parallel-flow mode carries glycerin in the inner pipe and water in the annular region. The glycerin enters the heat exchanger at 90C at a mass flow rate...

Answered: 1 week ago

Question

★★★★★
8. Your father who is a manager, broke his arm because he slipped and fell in a hotel room shower while on a business trip. Is your father entitled to workers' compensation benefits? 3. A. 5.

Answered: 1 week ago

Question

★★★★★
Spade Manufacturing produces surfboards. The company uses a normal-costing system and allocates manufacturing overhead on the basis of direct manufacturing labor-hours. Most of the company's...

Answered: 1 week ago

Question

★★★★★
Telnex Corporation maintains its internal inventory records using first - in , first - out ( FIFO ) under a perpetual inventory system. The following information relates to its inventory during the...

Answered: 1 week ago

Question

★★★★★
Suppose a local college has tasked you to develop a database that will keep track of students and the courses that they have taken. In addition to tracking the students and courses, the client wants...

Answered: 1 week ago

Question

★★★★★
What stage of team development do you think Casper is currently in? Explain why

Answered: 1 week ago

Question

★★★★★
How do your personality traits affect your teamwork and decision-making style and your interest and ability to participate in group decision-making?

Answered: 1 week ago

Question

★★★★★
To develop a strong team one must create trust among the team members. What actions did Caspers leadership take to develop trust?

Answered: 1 week ago

Previous Question Next Question