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2 years ago

What percentage of american employees work for an employer that does not offer a traditional pension or retirement plan?

1 answer:

6 0

<span>About 1/3 of American employees work without a traditional pension or retirement. This is a problem because when they get closer to retirement age their bank account may not have enough money for them to have a sustainable retirement and can force them to be on government spending such as welfare.</span>

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On october 31, 2009, sky co. borrowed $16 million cash and issued a 7-month, noninterest-bearing note. the loan was made by star

mash [69]

Answer: Sky's effective interest rate on this loan is 8.39%.

In this question, we assume that interest is compounded annually.

Since Sky issues a non-interest bearing note, Star Finance will deduct 7 months' interest at 8% on the Face Value of the loan and pay the rest as principal to Sky.

Face value of the note $16 million

Discount Rate p.a 8%

Tenure of the note 7 months

$Discount on Note = Face Value * Discount Rate * \frac{Tenure in months}{Months in a year}$

$Discount on Note = 16 * 0.08 * \frac{7}{12}$

$Discount on Note = 0.746666667million$

[tex]Loan Amount received by Sky = Face Value - Discount on note[/tex]

$Loan Amount received by Sky = 16 - 0.746666667$

$Loan Amount received by Sky = 15.25333333 million$

So, Sky pays an interest of 0.746666667 on a sum of 15.25333333 for 7 months. This works out to a seven month interest of:

$Seven month Interest Rate = \frac{Interest}{Loan amount}$

$Seven month Interest Rate = \frac{0.746666667}{15.25333333}$

$Seven month Interest Rate = 0.048951049$

From this we can work out the effective interest rate for Sky as follows:

$Sky's Effective Interest Rate = Seven month interest rate * \frac{12}{7}$

$Sky's Effective Interest Rate = 0.048951049* \frac{12}{7}$

$Sky's Effective Interest Rate = 0.083916084$

4 0

3 years ago

Willco Inc. manufactures electronic parts. They are analyzing their monthly maintenance costs to determine the best way to budge

ASHA 777 [7]

Answer:

Variable cost per unit= $1.048

Explanation:

Giving the following information:

Highest activity cost= $151,000

Highest activity units= 86,300

Lowest activity cost= $125,000

Lowest activity units= 61,500

<u>To calculate the variable cost under the high-low method, we need to use the following formula:</u>

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)

Variable cost per unit= (151,000 - 125,000) / (86,300 - 61,500)

Variable cost per unit= $1.048

6 0

3 years ago

Browne, a self-employed taxpayer, has 2018 business net income of $15,000 prior to any expense deduction for equipment purchases

Vaselesa [24]

Answer: $20,000

Explanation: A taxpayer who spends less than $800,000 on equipment can deduct the cost of

equipment purchases up to a maximum of $250,000 per tax year. The deduction is limited to the amount that will reduce taxable income to zero.

7 0

3 years ago

Elisa and Clyde operate a retail sports memorabilia shop. For the current year, sales revenue is $55,000 and expenses are as fol

romanna [79]

Answer:

A. AGI $17,000

B. Chelsie cannot deduct the $1,000 payment on her tax return reason been that Chelsie is not in anyway entitled to a tax return deduction.

Explanation:

a. Calculation for Elisa and Clyde's AGI.

Sales revenue $55,000

Less Cost of goods sold ($21,000)

Advertising ($1,000)

Utilities ($2,000)

Rent ($4,500)

Insurance ($1,500)

Wages to Boyd ($8,000)

AGI $17,000

Based on the above calculation Elisa and Clyde can deduct the amount of $8,000 from the wages amount they paid to Boyd and secondly both Elisa and Clyde cannot deduct the amount of $1,000 that was paid by Chelsie.

b. Chelsie cannot deduct the amount of $1,000 which is the payment on her tax return reason been that Chelsie is not in anyway entitled to a tax return deduction.

7 0

2 years ago

Auerbach Inc. issued 4% bonds on October 1, 2021. The bonds have a maturity date of September 30, 2031 and a face value of $425

NeX [460]

Answer:

The answer is " $360595900$ ".