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Use the following information for the next three (3) questions: Ralts Company decided to offer a bonus to its branch manager at 20% of
Use the following information for the next three (3) questions: Ralts Company decided to offer a bonus to its branch manager at 20% of net income earned by the branch during the current year. The income earned by the branch during the current year. The income for the branch was P3,090,000 before tax and before bonus for the current year. The income tax rate is 30%. QUESTIONS: 6) How much is the bonus if the bonus is based on the net income before bonus and tax? A. 360,500 B. 515,000 C. 379,474 D. 618,000 7) How much is the bonus if the bonus is based on the net income after bonus but before tax? A. 360,500 B. 515,000 C. 379,474 D. 618,000 8) How much is the bonus if the bonus is based on the net income after bonus and tax? C. 379,474 D. 618,000 . 360,500 . 515,000
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