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3 years ago

The effective rate of a $25,000 non-interest-bearing simple discount 10%, 90-day note is

1 answer:

5 0

For the answer to the question above, the $25,000 due in 90 days.
I'll use 365 days per year. 10% simple discount:
25000*0.10(90/365) = 616.44
Cash in hand at the beginning of the 90 days:
25000 - 616.44 = 24,383.56

Solve for r: 616.44 = 24383.56*r*(90/365)

r = 0.10252837 or the nearest answer is letter C. 10.26%
It is not exact because maybe he rounded off the 24383.56

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Emily Turnbull, president of Aerobic Equipment Corporation, is concerned about her employees’ well-being. The company offers its

sweet-ann [11.9K]

Answer:

1. Salary expense = $2,300,000

Withholdings = $494,500

Salary payable = $1,805,500

2. Total fringe benefits = $185,150

3. Payroll tax = $494,500

Explanation:

1. Employee salary expense is given as $2,300,00

Withholdings is given as $494,500. This is the sum total of federal and state FICA taxes and unemployment tax.

Salaries payable is employee salary expense less withholdings.

Salaries payable = 2,300,000 - 494,500

= $1,805,500

2. Employer-provided fringe benefits includes medical insurance, dental insurance, life insurance and voluntary retirement plan contribution. The corporation matches employee contributions to a voluntary retirement plan up to 6% of their salaries and employee contribution to voluntary retirement plan is $115,000. Since this amount is 5% of salaries, the corporation will contribute an equal amount.

Medical insurance premiums paid by employer = $46,000

Dental insurance premiums paid by employer = $16,100

Life insurance premiums paid by employer = $8,050

Employer contribution to voluntary retirement plan = $115,000

Total fringe benefits = $185,150

3. Employer payroll taxes includes Federal and state FICA taxes and unemployment tax.

Federal FICA tax (rate of 7.65%) = (7.65/100) * 2300000 = $175,950

State FICA tax (rate of 7.65%) = (7.65/100) * 2300000 = $175,950

Unemployment tax (rate of 6.20%) = (6.20/100) * 2300000 = $142,600

Total pay roll tax = 175950 + 175950 +142600

= $494,500

8 0

4 years ago

If the actual terms of trade are 1 belt for 1.5 swords and 70 belts are traded, how many belts will Morocco gain compared to the

motikmotik

Answer:

If Morocco produces 120 belts and exports 70 belts:

it will receive 105 swords (= 70 x 1.5)
it will consume 50 belts (its domestic consumption of belts will decrease by 10)

Explanation:

Without trade, Morocco will produce 60 swords and 60 belts and consume them all, but if it engages in trade, it will produce 120 belts.

Morocco's opportunity cost of producing one belt = 60 / 60 = 1
Morocco's opportunity cost of producing one sword = 60 / 60 = 1

Estonia's opportunity cost of producing one belt = 100 / 40 = 2.5
Estonia's opportunity cost of producing one sword = 40 / 100 = 0.25

If Morocco produces 120 belts and keeps current consumption level:

it consumes 60 belts
it can trade 40 belts for 60 swords
it will have a 20 belt surplus production

If Morocco produces 120 belts and exports 70 belts:

it will receive 105 swords (= 70 x 1.5)
it will consume 50 belts

6 0

4 years ago

If the consumer price index was 80 in 2004, 100 in 2005, and 110 in 2006, then the base year must be

iogann1982 [59]

2004 is the base year

4 0

3 years ago

Michele is a freelancer who works with a publishing company on an editorial team. she resides in connecticut, while the company

daser333 [38]

The answer is virtual team. This is otherwise called a geographically dispersed team, remote team , or distributed team for the most part alludes to a gathering of people who cooperate from various geographic areas and depend on correspondence innovation, for example, email, FAX, and video or voice conferencing administrations keeping in mind the end goal to team up.

4 0

4 years ago

In their evaluation of his performance as a trainer in the sales department of Pharmex, Heath's supervisors look at such factors

belka [17]

Answer: B. Job performance

Explanation:

Job performance simply means the level to which the job responsibilities of an employee is being successfully fulfilled by the person.

Since the factors being evaluated are the amount of time that the trainer spends with each of his trainees, the coverage of key points, his success rate in turning out trained salespeople within the amount of time allotted etc, then it can be infer that his job performance is being evaluated.

3 0

3 years ago