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Vedmedyk [2.9K]
3 years ago
14

David is a police officer with the New York Police Department (NYPD).NYPD asks David to retire when he turns 65.It also informs

David that he is eligible for an annual pension of $40,000.David feels that he is a good police officer and that he has been unfairly discriminated against because of his age.He files a complaint under the Age Discrimination in Employment Act against the NYPD.Which of the following statements is true in this case?
A) David will most likely win the case as it is illegal to subject an employee who receives less than $44,000 a year to mandatory retirement.
B) David will most likely lose the case as it is legal for police officers to be subjected to mandatory retirement.
C) David will most likely lose the case as he is not a high-level employee.
D) David will most likely win the case as he is not yet 70, and it is only legal to subject employees who are 70 and older to mandatory retirement.
Business
1 answer:
romanna [79]3 years ago
3 0

Answer:

B) David will most likely lose the case as it is legal for police officers to be subjected to mandatory retirement.

Explanation:

According to relevant laws, an officer must retire upon attaining the age of 62 of after 20 years of uniformed service (if it is an Early Retirement) or 22 years of uniformed service (if it is a Normal Retirement).

Regardless of whether it is a Normal or Early retirement, the officer must disengage at the age of 62.

The relevant laws which govern the administration of the NYPD retirement process as wells pensions are:

  • the Administrative Code of the City of New York (NYCAC);
  • the New York State Retirement and Social Security Law (RSSL), and
  • the Rules of New York City Police Pension Fund (NYCPPF)

Cheers!

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On February 1, 2021, Strauss-Lombardi issued 8% bonds, dated February 1, with a face amount of $810,000. The bonds sold for $735
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Answer and Explanation:

According to the scenario, computation of the given data are as follow:-

Interest paid semiannually on July 31, and Jan 31,

so the rate of interest is :- 9% × 6÷12 = 4.5%  and  8% × 6÷12 = 4%

Date    Interest         Paid interest 4%         Amortized         Carrying value

       expenses 4.50%                             discount amount

February,1                                                    $735,474

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Jan.31      $33,128   -   $32,400                    $728            $736,898

Working note =

Paid interest = $810,000 × 4÷100 = 32,400

Interest expenses in July,31 = $735,474 × 4.5 ÷ 100

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Interest expenses in January,31 = $736,170 × 4.5÷100

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Carrying Value = Previous Carrying Value + Amortized Discount Amount

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Jan,31 =  $736,170 + $728 = $736,898

Journal Entry

Feb,1  Cash A/c Dr. $735,474

  Discount on bonds payable A/c Dr. $74,526

  To bonds payable A/c      $810,000

         (To Record the issuance of bond)

July,31 Interest expense A/c Dr. $33,096

     To Discount on bonds payable A/c  $696

     To Cash A/c $32,400

            (To Record the interest expense)

Dec,31  Interest expense A/c Dr. $27,606

      (9% × 5÷12) × $736,170

     To Discount on bonds payable A/c $606

     To Cash A/c $27,000    (8% × 5÷12) × $810,000  

           (To Record the accrued interest)

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    Interest payable A/c Dr. $27,000

    To Cash A/c $32,400

    To Discount on bonds payable A/c $122

 ($728 - $606) = $122

          (To Record the interest on January)

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