Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Accounting Basics Expert

Question - Wright inc has an incentive compensation plan under which the sales manager receives a bonus equal to 10% of the companies income after deductions for bonus and income taxes. Income before bonus and income taxes is $400,000. The effective tax rate is 30%. How much is the bonus (rounded to the nearest dollar).

A 40,000

B 30,108

C 28,000

D 26,168

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M92599359
  • Price:- $20

Priced at Now at $20, Verified Solution

Have any Question?


Related Questions in Accounting Basics

Question - carpenter inc had a balance of 80000 in its

Question - Carpenter Inc. had a balance of $80,000 in its quality-assurance warranty liability account as of December 31, 2015. In 2016, Carpenter's warranty expenditures were $445,000. Its warranty expense is calculated ...

Practical and written assessment -assignment

Practical and Written Assessment - Assignment questions Baulkham Hills Shire Council owns and operates an animal shelter that performs three services: housing and finding homes for stray and unwanted animals, providing h ...

Question - speedy delivery company purchases a delivery van

Question - Speedy Delivery Company purchases a delivery van for $43,200. Speedy estimates that at the end of its four-year service life, the van will be worth $6,800. During the four-year period, the company expects to d ...

Question - wok n rolls statement of cash flows for october

Question - Wok N Roll's Statement of Cash Flows for October showed the following: Cash from operating activities $ 3,000 Cash for investing activities $(2,000) Cash from financing activities $ ? Net change in cash $ 5,00 ...

Question - on january 1 park corporation and strand

Question - On January 1, Park Corporation and Strand Corporation had condensed balance sheets as follows: Park Strand Current assets $ 115,000 $ 22,150 Noncurrent assets 93,000 44,100 Total assets $ 208,000 $ 66,250 Curr ...

Question select a company that uses technology for

Question: Select a company that uses technology for competitive advantage. In a 2 page paper discuss the technology that the company uses and why it provides an advantage over competitors. Also include: Summary of the pr ...

Question - pharoah company traded a used welding machine

Question - Pharoah Company traded a used welding machine (cost $10,260, accumulated depreciation $3,420) for office equipment with an estimated fair value of $5,700. Pharoah also paid $3,420 cash in the transaction. Prep ...

Question - bryant leased equipment that had a retail cash

Question - Bryant leased equipment that had a retail cash selling price of $740,000 and a useful life of five years with no residual value. The lessor paid $600,000 to acquire the equipment and used an implicit rate of 7 ...

Question - kramer corp reported the following sale and

Question - Kramer Corp. reported the following sale and purchase transactions related to a specific product in January 2017: Date Transaction Quantity Unit Cost Unit Sales Price Jan 01 Beginning inventory 5 $90 Jan 03 Sa ...

Question - on january 1 josh loaned his son seth 100000

Question - On January 1, Josh loaned his son Seth $100,000, interest-free. Seth uses the money to invest in corporate bonds paying 8% annual interest. Assume that the applicable federal rate of interest is 5%. You may al ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As