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Answer:
c. $9.50 each.
Explanation:
For computing the selling price, first we have to compute the total price of three cakes which is shown below:
The sale value of three cakes would be
= $3 per cake × 3 cakes
= $9
And, the producer surplus is $19.50
So, the total price of cake equals to
= $9 + $19.50
= $28.50
And, the number of cake is 3
So, the selling price would be
= $28.50 ÷ 3 cakes
= $9.50 each
Answer:
The correct answer is B: The investment has a future value of $8,053
Explanation:
Giving the following information:
A lump sum of $5,000 is invested at 10% per year for five years. The company's cost of capital is 8%.
We need to calculate the final value of the investment. We will use the following formula:
FV= PV*(1+i)^n
FV= 5,000*1.10^5= $8,052.55
Answer:
Dr Payroll Tax Expense: $2,321
Cr FICA- Social security taxes payable $1,054
Cr FICA- Medicare taxes payable $247
Cr SUTA-State unemployment taxes payable $918
Cr FUTA- Federal unemployment taxes payable $102
Explanation:
Preparation of the March 31 journal entry to record the March payroll taxes expense
March 31
Dr Payroll Tax Expense: $2,321
($1,054+$247+$918+$102)
Cr FICA- Social security taxes payable $1,054
[($1,700*10)*6.2%]
Cr FICA- Medicare taxes payable $247
[($1,700*10)*1.45%]
Cr SUTA-State unemployment taxes payable $918
[($1,700*10)*5.4%]
Cr FUTA- Federal unemployment taxes payable $102
[($1,700*10)*0.6%]
(To record payroll taxes expense)
Answer:
The cash award will be equal;l to $444422.01
Explanation:
We have given amount invested P = $440000
Rate of interest r = 8.3%
Time t = 1 year
As the amount is compounded on daily basis
We know that 1 year = 365 days
So rate of interest 
%
Time period n = 365
We know that final amount is equal to 
So 
$
So the cash award will be equal;l to $444422.01
