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bonus 10%

Pfts $ 1,500,000.00
tax 30%
PBIT $ 5,000,000.00

Ques 1

Date Account title debit credit

Dec-31 Salaries expense $ 350,000


Bonus payable $ 350,000
(5000000-1500000)*0.1

Income tax expense $ 1,395,000


income tax payable $ 1,395,000
(5000000-350000)*0.3

Ques 2
Balance sheet
Current Liabilities:
Bonus paybale $ 350,000
Income taxes payable $ 1,395,000

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