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Answer:
$16,000
Explanation:
Computation of what the customer must deposit for purchasing $100,000 of corporate bonds at 80% in a margin account
Since the minimum maintenance is the standard that is set by FINRA is the greater of 7% of the face amount or 20% of the market value.
Hence,
The bonds are purchased at 80% of $100,000 par, thus the first step is to find the 80% of $100,000. Calculated as :
80%×$100,000= $80,000
Second step is to find the 20% of $80,000 which is calculated as:
20% ×$80,000 = $16,000.
Third step is to find the 7% of $100,000, calculated as:
7% of $100,000 face = $7,000.
Based on the above calculation the greater amount is $16,000 which means that the customer must deposit the amount of $16,000 which is the greater amount.
Answer:
$45,195
Explanation:
The computation of the taxable income is shown below;
But before that following calculations need to be done
Gross income is
= Gross salary + Dividend income + Interest income
= $58,755 + $245 + $295
= $59,295
Now
Adjusted gross income = Gross income - Adjustments to income
= $59,295 - $2,100
= $57,195
And, finally
Taxable income = Adjusted gross income - ( standard deduction or itemized deduction i.e. higher amount
So,
Taxable income = $57,195 - $12,000
= $45,195
Answer:
$63,140
Explanation:
For computing the total amount of product cost first we have to find out the total product cost per unit which is shown below
Direct material cost per unit + Direct labor cost per unit + Variable manufacturing overhead per unit + Fixed manufacturing overhead per unit.
= $6.70 + $3.40 + $1.50 + $3.80
= $15.40
Now the
Product cost is
= units produced × cost per unit
= 4,100 units × $15.40
= $63,140
We simply applied the above formulas