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juin [17]
3 years ago
14

Axe company sponsors a 401(k) profit sharing plan with no employer match, but the company did make noncontributory employer cont

ributions because the plan was top-heavy. Jack quit today after six years working for Axe and has come to you to determine how much of his retirement balance he can take with him. The plan uses the least generous graduated vesting schedule available. What is Jack's vested account balance if he has been a participant for 57 months? EMPLOYER EMPLOYEE CONTRIBUTIONS $9,000 $12,000 EARNINGS $4,000 $5,000 a. $17,000. b. $27,400. c. $24,800. d. $30,000.
Business
1 answer:
Vinil7 [7]3 years ago
6 0

Answer:

d. $30,000.

Explanation:

Jack is entitled to 100% of his own contributions = $9,000 + $4,000 = $13,000

The following is the least generous vesting schedule

Least-generous graded vesting schedule

Years of service            % vested

1                                             0%

2                                          20%

3                                          40%

4                                           60%

5                                          80%

6                                         100%

Since jack worked for 57 months, he is entitled to 100% of the employer's contributions = $12,000 + $5,000 = $17,000

Total account balance = $13,000 + $17,000 = $30,000

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an employee of a company is being paid to assist in the sale of stock options to the company's employees and will recieve a bonu
DENIUS [597]

Answer:

An employee of a company who is being paid to assist in the sale of stock options to the company's employees  and receives a bonus based on sales                  results is referred to as an Agent. This is in accordance with Uniform Securities Act.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  

Explanation:

The Uniform Securities Act refers to an employee of a company who is paid to assist in the sale of stock option to the company's employees and receives a bonus based on sales results as an agent. Such an employee is required to register with the state.

3 0
3 years ago
President obama announced a $100,000,000 humanitarian aid package to haiti to support its earthquake relief. england's parliamen
Julli [10]

Answer: The parliament is likely to allocate £ 1,23,93,800.62

We arrive at the answer as follows:

Amount allocated by President Obama    $100,000,000

Amount England wants to contribute        20% of President Obama's allocation

Amount England wants to contribute in USD  =

                                              0.2 * 100,000,000 = USD 2,00,00,000  

Exchange Rate                                      $1. 61371/1 pound sterling

We can read the problem as if $1.61371 is equal to 1 pound sterling, how many pound sterlings are equal to $2,00,00,000?

Let number of pound sterlings be x

So, \frac{1.61371}{1}= \frac{100000000}{x}

x = \frac{100000000}{1.61731}

x = 1,23,93,800.62


3 0
3 years ago
The stock of Mulberry Corporation is owned by Archana (60%) and Anar (40%), who are mother and daughter. Pursuant to a plan of c
Phoenix [80]

Answer:

There is loss of $109,120

Explanation:

Lossrecognized=Marketvalue−Purchasevalue

=$1773200-1364000

Therefore, loss recognized by “M” Corporation is $409,200

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LossbyA=Purchasevalue−Liability−ActualbasisofM

=[($1364000-$1091200)×40%]−$218240

=$109120−$218240

=($109,120)  loss

​

4 0
3 years ago
Read 2 more answers
The Vermont Teddy Bear Company sells handmade Teddy bears designed to be given as gifts for almost every occasion imaginable. Fo
soldi70 [24.7K]

Answer:

product line

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4 0
3 years ago
True or false: production runs can be scheduled in one or two shifts.
irina1246 [14]
The answers are as follows:
1. TRUE.
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2. FALSE
Hiring the needed complement will eliminate OVERTIME, not the second shift. Hiring the needed complement usually remove the need for all overtime. Hiring the needed complement will make having a second production run team possible and this second team can handle the production process that ought to be done through overtime.
3. FALSE.
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4. TRUE.
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5. FALSE
Increasing training hours decreases needed complement. Increasing the training hours will equip the workers with the needed knowledge which will make them more effective and productive. This will decreases the complement needed for the production process.
6. RECRUITING COST [B].
In a situation where a company has to hire more workers to the one it already has on ground as a result of increased production, then the company will have to spend extra money in the process of recruiting the needed workers.
7. DECREASE [B]
If the productive index is already at 100%, adding overtime will decreases the productivity index. This is because, overtime has a way of reducing the efficiency and the productivity of the workers, thus decreasing the amount of work done by them.
8. FALSE.
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9. C
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10. SEPARATION COST [C].
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Separation cost refers to the cost that is needed to lay off an employee from an organisation. When the production level decreases or the company decide to automate their production processes, then some workers will have to be sacked and these workers have to be paid some money before they leave the company. This result in increase in the amount of money that the company will spend on separation cost.
8 0
3 years ago
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