Answer:
b. 7 percent
Explanation:
Benefits here means the statutory benefits that the employees have a right to receive. These on the legal terms are the requirements, as the employer is required to contribute around 7.65% of the salary paid to the employee towards benefits of social security and Medicare.
This clearly is the standard set for the payroll. Now this also provides for the minimum contributions, thus it provides that at-least these are to be made.
Thus, each employer when making a standard salary shall contribute more than 7% towards the benefits of the employees.
Answer:
Bad Debt expense = Allowance for uncollectible debit + (Estimated uncollectibles)
= 1,900 + (15% * 116,000)
= $19,300
1.
Dec. 31 DR Bad debt expenses $19,300
CR Allowance for Uncollectable $19,300
2. Balance Sheet;
= 116,000 * 15%
= $17,400
Income Statement;
= $19,300
3. Net realizable value
= Accounts receivable - Estimated uncollectibles
= 116,000 - 17,400
= $98,600
Answer:
The present value at 11% is $3,902.13,$3,479.85 at 16% and $2,615.57 at 30%
Explanation:
The present value formula is given as :
PV=FV/(1+r)^n
Where FV is the future value of cash flows such as the ones given in the question
r is the rate of return at 11%,16% and 30%
n is the applicable time horizon relevant to each of the cash flow.
Find attached spreadsheet for detailed calculations.
Answer:
The Federal Reserve System's main duties include conducting national monetary policy, supervising and regulating banks, maintaining financial stability, and providing banking services. The Federal Open Market Committee is the Fed's monetary policy-making body and manages the country's money supply.
Explanation:
Answer:
$14,887.5
Explanation:
Carrying Value of the bond is the net of Face value and any amortised discount on the bond.
Face Value of the bond = $19,000
Issuance Value = $14,300
Discount Value = $19,000 - $14,300 = $4,700
This Discount will be amortized over the bond's life until the maturity on straight line basis.
Amortization in each period = $4,700 / (8x2) = $293.75 semiannually
Until December 31, 2017 two payment have been made and $587.5 is amortized in the two semiannual periods.
Un-amortized Discount = $4,700 - $587.5 = $4,112.5
Carrying value of the bond = Face value - Un-amortized Discount = $19,000 - $4,112.5 = $14,887.5
