User Account

All Pages

How much should the vice president

Assignment Help Financial Accounting
Reference no: EM132745961

Question - Tohonta Quezon Avenue, Inc. is a dealer of Tohonta trucks and automobiles. Tohonta distributes annual bonuses to its Vice president for Sales department and three division managers, namely: truck divison, SUV division, and AUV and Sedan Division. The company reported P 12,000,000 profit for year 2019 before bonuses and income tax. Income tax rate is 30%. How much should the vice president and each division manager receive, respectively, if the vice president gets 3% and each division manager gets 1% of profit after bonuses before income taxes?

Reference no: EM132745961

Questions Cloud

Calculate the appropriate capitalization rate on borrowings : Calculate the appropriate capitalization rate on general borrowings that would be used for capitalization of borrowing costs
Understood the need for improvement : What actions would you take to ensure that employees in the organization understood the need for improvement and were able to cope with the accompanying changes
Which the journal entries for a bank reconciliation : Which the journal entries for a bank reconciliation? may include a debit to Office Expense for bank service charges. / are taken from the "balance per bank"
Which a cash equivalent is a short-term : Which a cash equivalent is a short-term, highly liquid investment that is readily convertible into known amounts of cash and? is acceptable as a means to pay
How much should the vice president : How much should the vice president and each division manager receive, respectively, if the vice president gets 3% and each division manager gets 1% of profit
Which of the items would be added to the balance reported : In preparing a monthly bank reconciliation, Which of items would be added to the balance reported on the bank statement to arrive at the correct cash balance?
Purpose of the conduct procurements process : The purpose of the Conduct Procurements process is to obtain responses to your RFP (Request for Proposal), or a similar procurement document.
How much power do suppliers have to raise price : Why are these three questions important when conducting an industry analysis: What are the key economic and regulatory issues faced by companies.
What is the effectiveness of caterpillar operational plan : How have mergers and acquisitions in the last 3-5 years have contributed to Caterpillar Inc.'s performance and affected its organizational goals?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Determine the appropriate discount factor

The present value of the annual cost savings of $132,000 is closest to: (Round discount factor(s) to 3 decimal places and final answer to the nearest dollar amount.)

  What was the firms operating cash flow or ocf

The 2014 balance sheet of Sugarpova's Tennis Shop, Inc., showed long-term debt of $3.3 million, and the 2015 balance sheet showed long-term debt of $3.4 million. The 2015 income statement showed an interest expense of $155,000. What was the firm’s 20..

  Determine the earnings per share and price-earnings ratio

The following information was taken from the financial statements of Finn Resources Inc. for December 31 of the current fiscal year: For the common stock, determine (a) the earnings per share, (b) the price-earnings ratio, (c) the dividends per share..

  Actual results to a budget based on the actual activity

Comparing actual results to a budget based on the actual activity for the period is possible with the use of a:

  Compute inventory by conventional retail inventory method

(Retail Inventory Method) Presented below is information related to Mantle Company. Compute the inventory by the conventional retail inventory method.

  What can expect to have at the end of years

A man has just inherited $250,000. If he invests the money at 4.5%, what can he expect to have at the end of 15 years when he retires?

  What features are likely to make a balance sheet helpful

What features are likely to make a balance sheet helpful to users? Could a statement of cash flows be presented as the only financial statement reported by a company? Explain your view.

  What is a stock split and what effect does it have on

What is a stock split and what effect does it have on the company’s stock? What effect will it likely have on the market value of the company’s stock?

  Which types of deal is moral hazard likely to be severe

Do the evidence James presents confirm this hypothesis? In other words, does skin in the game matter? Which types of deal is moral hazard likely to be severe

  Determine how much net income would report

Jill Accardo, MD, maintains the accounting records of Accardo, If Jill prepared Net Income on an "accrual basis", how much Net Income would she report for 2020?

  What is its standard deviation

An investment has a 20% chance of producing a 25% return, a 60% chance of producing a 10% return, What is its standard deviation

  Prepare a reporting template for nfp

For each task below, explain how theories, concepts, models, frameworks and/or technical competencies, from the accounting major(s) have applied. Prepare a Reporting Template for NFP (Not-For-Profit) tier 2 Reporting

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