The employees of vintage clothes achieved all of the sales goals for 2017 vintage decides to reward the employees with a bonus of 20% on annual net income after deducting the bonus the net income before the calculation of the bonus is $304,000 what is the amount of the bonus? A) $60,800 B) $53,647 C) $12,160 D) $50,667

The employees of vintage clothes achieved all of the sales goals for 2017 vintage decides to reward the employees with a bonus of 20% on annual net income after deducting the bonus the net income before the calculation of the bonus is $304,000 what is the amount of the bonus? A) $60,800 B) $53,647 C) $12,160 D) $50,667

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter9: Current Liabilities And Contingent Obligations

Section: Chapter Questions

Problem 8RE: Borat Company gives annual bonuses after the end of the year. Borat computes the bonuses based on...

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Marle Construction enters into a contract with a customer to build a warehouse for $950,000 on March 30, 2018 with a performance bonus of $50,000 if the building is completed by July 31, 2018. The bonus is reduced by $10,000 each week that completion is delayed. Marle commonly includes these completion bonuses in its contracts and, based on prior experience, estimates the following completion outcomes: Completed by Probability July 31, 2018 65% August 7, 2018 25% August 14, 2018 5% August 21, 2018 5% Determine the amount of the transaction price.
Marle Construction enters into a contract with a customer to build a warehouse for $950,000 on March 31, 2021, with a performance bonus of $50,000 if the building is completed by July 31, 2021. The bonus is reduced by $10,000 each week that the completion is delayed. Marle commonly includes these completion bonuses in its contracts and based on prior experience, estimates the following completion outcomes: Completed by Probability July 31, 2021 65% August 7, 2021 25% August 14, 2021 5% August 21, 2021 5% Using the probability weighted method, what will total revenue be? Using the most likely method, what will total revenue be?
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