hey there!:
1)
a) Amount of credit the company would receive against the FUTA tax for its SUTA contributions = 2896.21
(56900*3.1%*90%)+(56900*(5.4%-3.1%)) = 2896.21
b) Amount that Peroni Company would pay to the federal government for its FUTA tax = 517.79
(56900*6%)-2896.21 = 517.79
c) Amount that the company lost because of its late payments = 176.39
=517.79-(3414-1763.9-1308.7) = 176.39
Hope that helps!
Approximately 5% of franchises fail because survey's show about 95% success rate still in business.
Answer: 11.87%
Explanation:
Effective interest rate on this loan is:
= Interest payment / (Note - Interest payment) * 12/8 months
Interest payment:
= Note * Interest rate * 8/12 months
= 100,000 * 11% * 8/12
= $7,333
Effective interest:
= 7,333 / (100,000 - 7,333) * 12/8
= 11.87%
Answer:
The correct answer is Option is B.
Explanation:
The par value of shares is simply the stated value of shares in the company's books, as set out in the company's charter.
The full necessary journals to record the above transactions are:
Debit Cash (1,000 x $16) $16,000
Credit Common stock (1,000 x $10) $10,000
Credit Paid-in capital in excess of par value - common $6,000
<em>(To record issuance of common stock)</em>
So, the correct option is B.
