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vfiekz [6]
3 years ago
11

Axe company sponsors a 401(k) profit sharing plan with no employer match, but the company did make noncontributory employer cont

ributions because the plan was top-heavy. Jack quit today after six years working for Axe and has come to you to determine how much of his retirement balance he can take with him. The plan uses the least generous graduated vesting schedule available. What is Jack’s vested account balance if he has been a participant for 57 months
Business
1 answer:
il63 [147K]3 years ago
8 0

Answer:

$30,000

Explanation:

Given the following information:

Employer Contributions = $9,000

Employee Contributions = $12,000

Earnings = $4,000 + $5,000

Jack should be given 100% of his contributions and the earnings of those contributions due to the vesting schedule, which he is entitled to because he has only worked for 6 years.

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4 years ago
Creating value within business units can happen when a firm tries to find and acquire either poorly performing firms with unreal
Strike441 [17]

Answer:

Parenting.

Explanation:

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6 0
3 years ago
Suppose Yamahonda, a Japanese-owned motorcycle manufacturer, builds a production plant in Alabama. This is an example of foreign
Alika [10]

Answer:

The statement is true, as it is an example of foreign direct investment.

Explanation:

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3 0
3 years ago
Which of the following is a characteristic of a partnership? a.The partners have limited liability. b.The partnership is subject
Ulleksa [173]

Answer:

The correct answer is letter "C": The partnership has a limited life.

Explanation:

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8 0
3 years ago
Which accurately explains how profit is calculated? A. Benefits and costs are balanced. B. Total retail sales are determined. C.
andre [41]

Answer:

Costs are subtracted from revenues.

Explanation:

As we know  

Profit is calculated when the cost is subtracted from revenues.  

In mathematically,  

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The profit which would be calculated above is shown in the debit side of the income statement.  

As the income statement records all the expenses or cost incurred and all the revenues which are generated

6 0
3 years ago
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