Answer:
1 million.
Explanation:
Employers are generally allowed to deduct reasonable compensation paid to employees, but the level of deductible compensation is limited to a maximum of $ 1,000,000 for the CEO, CFO, and the next three highest paid officers of publicly traded corporations unless certain exceptions are met.
Answer:
$12,000 and $6,000
Explanation:
For computing the dividend, first we have to find out the yearly dividend which is shown below:
= Number of shares × par value per share × dividend rate × number of years
= 1,000 shares × $100 × 6% × 2 years
= $12,000
Out of $18,000, the $12,000 will be paid to preferred stockholders and the remaining $6,000 will be paid to common stockholders
Answer:
Date Account titles and explanation Debit Credit
May 20 Cash ($6,200 - $310) $5,890
Credit card expenses ($6,200*5%) $310
Sales $6,200
(To record the deposit)
Answer: 17.22%
Explanation:
Effective interest rate is calculated by the formula:
= (1 + APR / Number of compounding periods) ^ Number of compounding periods - 1
Number of compounding periods = 12 months in the year
= (1 + 0.1599/12)¹² - 1
= 0.172155
= 17.22%
