Determine the bonus

Assignment Help Accounting Basics
Reference no: EM133068879

Question - BTS Corporation provides its unit managers with a 12% bonus depending on its unit's performance at year-end. For the year ended 2019, unit income is P 2,700,000 before bonus and tax. The applicable tax rate is 30%.

Required -

1. Determine the bonus if bonus is 12% of unit income before bonus but after tax. Round your final answer to the nearest peso. 

2. Determine the bonus if bonus is 12% of unit income after bonus but before tax. Round your final answer to the nearest peso.

Reference no: EM133068879

Questions Cloud

How much should your monthly deposit be : How much should your monthly deposit be so that you can withdraw $60,000 at the beginning of each year for the 4 years she will be in college
What is non-controlling interest : What is non-controlling interest? How is it classified on the balance sheet of a parent company? Locate a company that has consolidated financial statements
Prepare extracts of the statement of financial position : Prepare extracts of the statement of financial position as at 31 December 2020 and the statement of profit or loss
What treatment does require for this event : A number of items are reflected at a cost greater than net realisable value with a material effect on the accounts. What treatment does AASB 110 require
Determine the bonus : BTS Corporation provides its unit managers with a 12% bonus depending on its unit's performance at year-end. Determine the bonus
Determine the current liability to be reported on December : Of the Unearned Subscription Revenue balance, 30% were earned during 2020. Determine the current liability to be reported on December 31, 2020
Estimate the company cost of capital : The total market value of Biz Tech shares is $60 million, and the total market value of its debt is $40 million. The treasurer estimates that the beta of the sh
Calculate duration of the bond : Consider a 3-year bond with 13 percent semi-annual coupon payments and currently priced to yield 12 per cent per annum.
How will this transaction affect the company assets : At the end of the quarter, it has sold $175,000 of it at a cost of $280,000. How will this transaction affect the company's assets

Reviews

Write a Review

Accounting Basics Questions & Answers

  At the end of year 1 the companys board of directors set a

at the end of year 1 the companys board of directors set a target for year 2 of net operating income of 140000 under

  What was the company revenue for the year

Pharoah Company began the year with retained earnings of $941000. If Pharoah ending retained earnings was $1001000, what was the company's revenue for the year

  Analysis and comparison of the income statement items

Find the financial statements for 2 related companies and calculate the following ratios for each; current ratio, acid test ratio, debt ratio, equity ratio, acct receivable turnover, days sales uncollected, inventory turnover, days sales in invent..

  In an attempt to identify possible suspects the auditors

in an attempt to identify possible suspects the auditors researched the personal files of every employee in the

  How much was beginning accounts payable

$4,500, paid $2,300 of Accounts Payable, and had an ending Accounts Payable balance of $16,890. How much was beginning Accounts Payable?

  What does the capital budgeting model

What does the capital budgeting model consist of and how does it work: including the process used, as well as the implications for the decision-making process

  Cisco inc had beginning and ending accounts receivable

1.accounts receivable written off during the year totaled 61500 while the beginning and ending balance of allowance for

  Trilluium processes in auto insurance policies on

trilluium processes in auto insurance policies on abatch-oriented computer system with magnetic dist storage.customers

  What amount of lease income should be recognized by lomi

Annual rental payment under the lease commencing in the third year is P500,000. What amount of lease income should be recognized by Lomi in the first year?

  Compute the number of units that must be sold

Compute the number of units that must be sold if advertising costs rise by 12,000 and a targeted profit of 120,000 is to be obtained

  Locate the annual financial statements of a publicly held

locate the annual financial statements of a publicly held company on the internet. review the balance sheet and the

  Prepare the journal entry to record amortization expense

Ramon Productions purchased the copy right to a film script for $250,000 on July 1. Prepare the journal entry to record amortization expense for the first year

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd