Maurice Tutor

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About Maurice Tutor

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Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 4 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 18 Aug 2017 My Price 11.00

compensation packages

Sometimes compensation packages include bonuses designed to provide performance incentives to employees. The difficulty a bonus can cause accountants is not an accounting problem, but a math problem. The complication is that the bonus formula sometimes specifies that the calculation of the bonus is based in part on the bonus itself. This occurs anytime the bonus is a percentage of income because expenses are components of income, and the bonus is an expense.

     Regalia Fashions has an incentive compensation plan through which a division manager receives a bonus equal to 8% of the divisionAc€?cs net income. Division income in 2013 before the bonus and income tax was $245,000. The tax rate is 30%.
Required:
2.

Calculate the amount of the bonus. (Do not round intermediate calculations. Round your answer to the nearest dollar amount.)

 

Answers

Maurice Tutor
(5)
Status NEW Posted 18 Aug 2017 06:08 PM My Price 11.00

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