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ADHERE TO STICK Co. grants its managerial employees bonus in the form of profit sharing.
Information on operations in 20x1 is shown below:
Profit before tax ?4,000,000
Bonus rate or percentage 10%
Income tax rate 30%
Problem 1: How much is the bonus "before bonus and before tax?"
a. 363,636
b. 280,000
c. 400,000
d. 288,660
Problem 2: How much is the bonus "after bonus and before tax?"
a. 400,000
b. 363,636
c. 261,684
d. 245,798
Problem 3: How much is the bonus "before bonus and after tax?"
b. 261,684
c. 245,798
Problem 4: How much is the bonus "after bonus and after tax?"
b. 261,682
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