User Account

All Pages

How much is the bonus after bonus and before tax

Assignment Help Financial Accounting
Reference no: EM132947233

Questions -

Q1. Adhere Company grants its managerial employees bonus in the form of profit sharing. Information on operations in 2019 is shown below: Profit before bonus & tax 4,000,000

Bonus rate or percentage 10%

Income tax rate 30%

How much is the bonus "after bonus and before tax"?

a. 363,636

b. 261,682

c. 245,798

d. 288,660

Q2. ANOMALOUS IRREGULAR Co. grants its employees twelve days paid vacation leave each year. Per ANOMALOUS's policy, employees are required to take vacation leave each year, but not necessarily for their entire vacation leave entitlement. Vacation leaves not taken during a year can be carried over indefinitely.

ADHERE has 500 employees with an average salary of 4,000 per day. The average annual pay increase is 5%. During 20x1, total vacation leaves taken by employees were 5,400 days. Based on past experience, 90% of unused vacation leave for a year are taken in the immediately following year.

If unused vacation leaves vest, how much should ANOMALOUS accrue as liability for unused vacation leave on December 31, 20x1?

a. 2,520,000

b. 25,200,000

c. 2,268,000

d. 0

Q3. ARTIFACT MAN MADE OBJECT Co. provides an incentive compensation plan under which its president receives a bonus equal to 10% of ARTIFACT's profit before tax but after deduction of the bonus. ARTIFACT's profit after tax and after bonus for the year is 2,545,456. Income tax rate is 30%. How much is the bonus?

a. 363,636

b. 261,682

c. 245,798

d. 288,660

Reference no: EM132947233

Questions Cloud

Calculate its sales : Question - The company sales were 4000 products at 650 each before vat including sales commission. Calculate its sales
Explain the barriers to inclusion : A growing body of literature shows that many employees do not feel fully included at work and want their organisations to do more to advance inclusion and diver
Prepare a journal entries related to this foreign currency : Perry prepares U.S.-dollar financial statements and has a December 31 year-end. Prepare a journal entries related to this foreign currency
Evaluate the types of healthcare information systems : Evaluate the types of healthcare information systems, knowledge-based systems, patient care technology, and the impact on patient safety
How much is the bonus after bonus and before tax : Information on operations in 2019 is shown below: Profit before bonus & tax 4,000,000. How much is the bonus after bonus and before tax
Contrast tangible and intangible resources : 1. Compare and contrast tangible and intangible resources. 2. Evaluate the two critical assumptions behind the resource-based view.
Discuss a recent unsuccessful change in healthcare : Discuss how you would improve the outcome. Discuss how you would use value-based healthcare delivery to influence a change behavior on a nursing unit.
What goals were intended by the practice change process : Discuss how the outcome was chosen and what goals were intended by the practice change process. Include how success or failure was achieved
What ways is disney enhancing its strategy as a company : In what ways is Disney enhancing its strategy as a company? Is Disney integrating horizontally or vertically or both?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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