Answer:
$83,333
Explanation:
The sales dollars level required to break even are: $83,333
Answer:
$854.98
Explanation:
Rachel's salary for November will be the annual salary divided by 12 months.
= $165,480. 42/ 12
=$13,790. 03
November pay is $13,790
The social security tax rate is 6.2% to the employee and 6.2% to the employer.
Rachael will pay 6.2% of her November gross income as social security tax
=6.2/100 x $13,790
=0.062 x $13,790
=$854.98
Explanation:
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Answer and Explanation:
The journal entry is shown below:
1. Organization expense Dr $58,500
To cash $58,500
(Being organization expense is recorded)
Here organization expense is debited as it increased the expenses and credited the cash as it decreased the assets. Also the assets and expenses contains normal debit balance
2. No entry is required as the amortization is recorded for only intangible assets
Answer:
Chris paid $109.68 for his bond. Since he paid a premium for the bond, the YTM is lower than the coupon rate.
Explanation:
yield of Cheryl's bond is 6% since she purchased it at par and the bond's coupon is 6%
if Chris's bond yields 80% of Cheryl's, it will yield 6% x 0.8 = 4.8%
we can use the approximate yield to maturity formula to find the market price of Chris's bond:
2.4%(semiannual) = {3 + [(100 - MV)/20]} / [(100 + MV)/2]
0.024 x [(100 + MV)/2] = 3 + [(100 - MV)/20]
0.024 x (50 + 0.5MV) = 3 + 5 - 0.05MV
1.2 + 0.012MV = 8 - 0.05MV
0.062MV = 6.8
MV = 6.8 / 0.062 = 109.68
