For the Year Ended December 31,2013,Mason Company Has Implemented an Employee

question 72

Multiple Choice

For the year ended December 31,2013,Mason Company has implemented an employee bonus program equal to 7% of Mason's net income,which employees will share equally.Mason's net income (pre-bonus) is expected to be $3,500,000,and bonus expense is deducted in computing net income.What is the amount that needs to be recorded for estimated bonus liability for 2013?

• A)$245,000
• B)$144,118
• C)$228,972
• D)$50,000
• E)$125,000

---

Definitions:

Laid Off

The temporary or permanent termination of employment, typically due to economic reasons rather than personal performance issues.

Jobless Situation

This is the state of being unemployed, where an individual is actively seeking work but unable to find a job.

Withdrawn

The state of being introverted or disengaged from social interactions, often as a response to emotional distress or personal preference.

Personal Values

The beliefs, principles, or ethical standards that individuals consider important and guide their behavior and decision-making.