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3 years ago

"The type of retirement plan that gives the employer flexibility as to the amount contributed annually is a(n):"

Business

1 answer:

Veseljchak [2.6K]3 years ago

4 0

Answer:

SEP-IRA

Explanation:

It's a retirement savings plan made by employers including people that are self-employed for the benefit of their employees and themselves. The employer may make tax-deducible contributions for certain employees towards their SEP-IRA

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The balance in retained earnings at December 31, 2020 was $1440000 and at December 31, 2021 was $1168000. Net income for 2021 wa

fomenos

Answer:

C. $682,000

Explanation:

Given the above information, the computation of cash dividend is seen below;

Beginning retained earnings (2020) + net income - Stock dividend - Cash dividend = Retained earnings

$1,440,000 + $1,008,000 - ($499,000 + $99,000) - Cash dividend = $1,168,000

$2,448,000 - $598,000 - Cash dividend = $1,168,000

Cash dividend = $2,448,000 - $598,000 - $1,168,000

Cash dividend = $682,000

5 0

2 years ago

Pollachek Co. purchased land as a factory site for $430000. The process of tearing down two old buildings on the site and constr

UkoKoshka [18]

<u>Solution and Explanation:</u>

Land = 430000 + 48000 - 6800 + 2050 + 1400 = $474650

Building = 2100 + 64000 + 700 + 1200000 + 1610000 + 220000 = $3096800

In the land, cost of land has been included and along with amount to raze old building is included. salvage value is subtracted and legal fees is included and insurance on property cost is also included in the calculation of land.

In the calculation of building, land survey fees is included, drawing of factory plans is included, insurance premium fess is included, instalments amounts is included and interest cost is also included.

8 0

3 years ago

Determine the price in period 1 (the future) if 30 units of oil are consumed in period 0 (the present).

Dovator [93]

Answer:

$16.50

Explanation:

Note: The complete question is attached as picture below

We know that there is a total of 90 units of oil and 30 units is consumed in period 0.

So, in period 1, the consumption amount will be = 90-30=60 units.

So, Q1 = 192 - 8P

For 60 units, the price will be 60 = 192 - 8P

8P = 192 - 60

8P = 132

P = 132 / 8

P = 16.5

So, the price in period 1 is $16.50

8 0

2 years ago

If the fed believes the economy is about to fall into recession, it should

Otrada [13]

<span>If the Fed believes the economy is about to fall into recession, it should use an expansionary monetary policy to lower the interest rate and shift AD to the right. When using an expansionary monetary policy a central bank will use its tools to stimulate the economy. They increase the supply of money, lower interest rates and increase aggregate demand.

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5 0

3 years ago

Beedle issued a 10-year bond to Aeron Company on 1/1/20x6. The bonds have a 6% annual interest rate and pay interest semi-annual

Mama L [17]

1. The issue price of the bonds is<u> $215,589.16</u>.

2. An amortization schedule through 20x9 is as follows:

<h3>Amortization Schedule:</h3>

Period PV PMT Interest Expense Amortization FV

1 $215,589.16 $6,000 $5,389.73 $610.27 $214,978.89

2 $214,978.89 $6,000 $5,374.47 $625.53 $214,353.36

Year 2

3 $214,353.36 $6,000 $5,358.83 $641.17 $213,712.20

4 $213,712.20 $6,000 $5,342.80 $657.20 $213,055.00

Year 3

5 $213,055.00 $6,000 $5,326.38 $673.62 $212,381.38

6 $212,381.38 $6,000 $5,309.53 $690.47 $211,690.91

Year 4

7 $211,690.91 $6,000 $5,292.27 $707.73 $210,983.18

8 $210,983.18 $6,000 $5,274.58 $725.42 $210,257.76

3. The journal entry recorded by Beedle on January 1, 20x6 is as follows:

Debit Cash $215,589.16

Credit Bonds Payable $200,000

Credit Bond Premium $15,589.16

To record the issuance of $200,000 at 6% interest, semi-annually.

4. The amount in the accounts at the end of 20x6 are:

A. Bond payable $200,000

B. Premium $14,353.36 ($15,589.16 - $610.27 = $625.53)

C. Fair value adjustment on Bond payable = $1,235.80 ($610.27 = $625.53)

D. Interest expense = $10,764.20

5. The journal entry to record the bond retirement transaction on 12/31/20X8 is as follows:

Debit Bonds Payable $200,000

Debit Bonds Premium $12,000

Credit Cash $212,000

To record the bond retirement.

<h3>Data and Calculations:</h3>

Maturity period = 10 years

Interest rate = 6% semi-annually

Interest payment dates = June 30 and December 31

Market rate = 5%

Face value = $200,000

Semi-annual coupon payment = $6,000 ($200,000 x 3%)

Fair value of the bonds at December 31:

12/31/20X6 $ 213,200

12/31/20X7 $ 213,300

12/31/20x8 $ 212,000

<h3>Issue Price Calculations:</h3>

N (# of periods) = 20 (10 years x 2)

I/Y (Interest per year) = 5%

PMT (Periodic Payment) = $6,000 ($200,000 x 6% x 1/2)

FV (Future Value) = $200,000

Results:

PV = $215,589.16

Sum of all periodic payments = $120,000 ($6,000 x 20)

Total Interest $104,410.84

Learn more about recording bond transactions at brainly.com/question/15877561

#SPJ1

5 0

2 years ago