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3 years ago

Anne's employer matches 25% of her 401(k) contributions - up to $2000.

Business

1 answer:

muminat3 years ago

6 0

Answer:

<u>The correct answer is D. US$ 1,750.</u>

Explanation:

The data we have is the following:

Anne's employer matches 25% of her contributions up to US$ 2,000

She contributed to her 401(k) plan with US$ 7,000 last year

Therefore, her employer contribution is calculated this way:

Employer contribution = Anne's contribution * 0.25 (up to US$ 2,000)

Employer contribution = 7,000 * 0.25

Employer contribution = US$ 1,750 (below the limit of US$ 2,000

<u>Anne's employer contribution last year to her 401(k) was US$ 1,750</u>

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Answer:

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3 years ago

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Solution :

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3 years ago

Ajax, Inc., issued callable bonds with a par value of $1,000,000 that require the payment of a call premium of $10,000. The bond

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Answer:

Explanation:

The journal entry is shown below:

On September 30

Bonds payable A/c Dr $1,000,000

Loss on bond retirement A/c Dr $20,000

To Discount on Bond A/c $10,000

To Cash A/c $1,010,000

(Being the callable bond is recorded)

The computation is shown below:

For cash

= Par value of bond + Premium

= $1,000,000 + $10,000

= $1,010,000

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= $1,010,000 - $990,000

= $20,000

And, the remaining amount would be transferred to discount on bond

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