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Tokwa Inc. is a dealer of Kia trucks and automobiles. Tokwa distributes annual bonuses to its Vice President for Sales and three division managers,
Tokwa Inc. is a dealer of Kia trucks and automobiles. Tokwa distributes annual bonuses to its Vice President for Sales and three division managers, namely: Truck Division, SUV Division, and AUV and Sean Division. The company reported P12,000,000 profit for 2020 before bonuses and income tax. The income tax rate is 30%. How much should the vice president and each division manager receive, respectfully, if the vice president gets 3% and each division manager gets 1% of profit after bonuses but before income taxes?
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SOLUTION Given Profit before bonuses and income tax P12000000 Income tax rate 30 Vice presidents bon...
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Managerial Accounting Creating Value in a Dynamic Business Environment
Authors: Ronald Hilton, David Platt
10th edition
78025664, 978-0078025662
