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worty [1.4K]
3 years ago
6

Agent sally has been with black realty for over three years and has worked up to the top agent in the firm. her commission perce

ntage rate is double that of a starting agent. based on this information, what type of compensation plan does the black agency have in place?
Business
1 answer:
hjlf3 years ago
7 0
<span>Agent Sally has a graduated compensation plan. A graduated commision is system of compensation for sales people where the percentage of sales earned increases incrementally as sales volume increases.</span>
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On December 31, 2020, Wayne, Inc. sold $4,000,000 (face value) of bonds. The bonds are dated December 30, 2020, pay interest ann
Andreas93 [3]

Answer:

Wayne, Inc.

1. The stated interest rate for this bond issue is:

= 8%.

2. The market interest rate for this bond issue is:

= 9%.

3. The selling price of the bonds as a percentage of the face value is 97.5% ($3,900,000/$4,000,000 * 100)

4. Journal Entry to record the sale of the bond issue on December 31, 2020:

December 31, 2020:

Debit Cash $3,900,000

Debit Bonds Discounts $100,000

Credit Bonds Payable $4,000,000

To record the bonds proceeds, discounts, and liability.

5. December 31, 2021:

Debit Bonds Interest Expense $351,000

Credit Bonds Amortization $31,000

Credit Cash $320,000

To record the first payment of interest and amortization.

Explanation:

a) Data and Calculations:

Face value of bonds = $4,000,000

Bonds price = $3,900,000

Discount =   $100,000

December 31, 2021:

Interest expense = $351,000

Market interest rate = $351,000/$3,900,000 * 100 = 9%

Cash payment =     $320,000

Coupon interest rate = $320,000/$4,000,000 * 100 = 8%

7 0
3 years ago
Terapin Company engages in the following external transactions for November. 1. Purchase equipment in exchange for cash of $23,4
uysha [10]

Answer:

Journal Entries

Journal 1 :

Equipment $23,400 (debit)

Cash $23,400 (credit)

Being Purchase of Equipment

Journal 2 :

Cash  $6,800 (debit)

Service Revenue  $6,800 (credit)

Being Service rendered for Cash

Journal 3 :

Salaries Expense $2,100  (debit)

Cash $2,100 (credit)

Being Salaries expense paid

Explanation:

Narrations have been provided to explain the transaction. Remember to use the account titles provided in accounting for the transactions.

8 0
3 years ago
Starling Co. manufactures one product with a selling price of $18 and variable cost of $12. Starling’s total annual fixed costs
nikitadnepr [17]

The number of units that Starling Co. sold was 11200

<u>Explanation:</u>

Given -

Operating income = $28,800

Fixed cost = $38,400

Selling price of one unit = $12

Variable cost = $12

Number of units sold, n = ?

Contribution  margin per unit = $18 - $12

                                                 = $6

n = \frac{operating income + fixed cost}{contribution margin per unit}

n = \frac{28800 + 38400}{6} \\\\n = \frac{67200}{6} \\\\n = 11200

Therefore, number of units that Starling Co. sold was 11200

7 0
3 years ago
Each of the three categories of investments in debt and equity securities has similar accounting for all of the following transa
Arlecino [84]

Answer:

d. recognition of realized gains or losses on sales

Explanation:

In the case of trading securities, the non-realized gain and losses should be recorded in the income statement. So at the time when securties are sold so here the realized gain are distinct as compared to the afs and htm securties

So as per the given situation, the option d is correct

And, the same should be considered

7 0
3 years ago
Depreciation is defined as the Group of answer choices a. decrease in the stock of capital due to investment by firms. b. decrea
bogdanovich [222]

Answer:

b. decrease in the stock of capital due to wear and tear.

Explanation:

Depreciation is a reduction in the value of an asset over time, due in particular to wear and tear.

Depreciation is the gradual decrease in the economic value of the capital stock of a firm, nation or other entity, either through physical depreciation, obsolescence or changes in the demand for the services of the capital in question.

The monetary value of an asset decreases over time due to use, wear and tear or obsolescence. This decrease is measured as depreciation. ... Machinery, equipment, currency are some examples of assets that are likely to depreciate over a specific period of time.

4 0
3 years ago
Read 2 more answers
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