Masons net income pre-bonus is expected to be 3000000 and, Ask an Expert

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For the year ended December 31, 2010, Mason Company has implemented an employee bonus program equal to 8% of Mason's net income, which employees will share equally. Mason's net income (pre-bonus) is expected to be $3,000,000, and bonus expense is deducted in computing net income. What is the amount that needs to be recorded for estimated bonus liability for 2010?

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Accounting Basics, Accounting

Category:- Accounting Basics
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