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Question - NANOEDGE Co. grants its managerial employees bonus in the form of profit sharing. Information on operations in 20x1 is shown below:
Profit before tax P4,000,000
Bonus rate or percentage 10%
Income tax rate 30%
Required -
1. How much is the bonus "before bonus and before tax?"
2. How much is the bonus "after bonus and before tax?"
3. How much is the bonus "before bonus and after tax?"
4. How much is the bonus "after bonus and after tax?"
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