Answer: $40,710
Explanation:
John's annual compensation includes his actual annual salary as well as the various payments that Heinlein Hillclimbers makes on his behalf.
His total annual compensation is:
= Annual salary + Employer's 401 contribution + Health insurance + Life insurance + AD&D + Profit sharing bonus + Tuition reimbursement + employer only taxes and insurance
= 26,500 + (150 /2 * 12 months) + (150 * 12 months) + (30 * 12 months ) + (50 * 12 months ) + (2% * 26,500) + 5,250 + (18% * 26,500)
= 26,500 + 900 + 1,800 + 360 + 600 + 530 + 5,250 + 4,770
= $40,710
Answer:
The cost of loan is $600000.
Explanation:
The loan amount = 4000000
The cost of loan refers to the interest rates and other charges that borrower pays. So in the given question first installment is 2400000 in the first year and second installment is 2200000. Here, lets assume any amount other then actual amount of loan amount is the amount spent on loan.
So, the cost of loan = (2400000 + 2200000) – 4000000 = $600000
Answer:
Common Stock $10,000 and Paid-in Capital in Excess of Par Value $2,000
Explanation:
The journal entry to record the issuance of common stock is presented below:
Cash A/c Dr $12,000 (1,000 shares × $12)
To Common Stock $10,000 ($1,000-× $10)
To Additional Paid-in Capital in excess of par - Common Stock $2,000
(Being the issuance of stock is reported and the remaining balance i.e $2,000 is credited to the additional paid-in capital account)
While issuing the stock, we debited the cash account as there is a cash inflow and credited the common stock and additional paid-in capital account as the share is issued which affect the stockholder equity
