Answer:
The journal entries are given as follows;
Explanation:
Jan 5
Cash Dr.$20,520
Sales Tax Payable 20,520-(20,520/1.08) Cr.$1,520
Inventory Cr.$19,000
Unearned Service Revenue Dr.$12,000
Service Revenue Cr.$12,000
Employee payroll Expense Dr.$452,000
Social Security payable Cr.$3,978
Federal Income Tax payable Cr.$5,686
State Income Tax payable Cr.$1,706
payroll Expenses payable (452,000-3,978-5,686-1,706) Cr.$440,630
The difference in production is most likely due to adding a chef, because production increased across the board at each level for both types of rolls. If there was only one chef, one roll would increase and the other would decrease because they could only spend their time on one thing.
The economic goals that central planned economies address are to supply enough food, housing, and other basic needs to anyone and everyone in the country. It also puts priorities on mobilizing for wars.
Answer:
B. $3,251
Explanation:
Stock shares × Allocated price = Shares closing price
A 700 ×$ 29.15 =$20,405
B 430 ×33.86=$14,560
C 340× 36.43 =$12,386
Total $47,351
Stock shares × IPO price= Shares IPO price
A 700 ×$30=$21,000
B 430×$30= $12,900
C 340×$30=$10,200
Total $44,100
Total Profits $47,351-$44,100
=$3,251
Therefore Kim's total profit on these three stocks at the end of the first day of trading will be $3,251
Answer:
b) fall to 8 percent.
Explanation:
First, irrespective of the duration of the bond, if the price is equal to the bond's face value, it means that the coupon rate is equal to the yield to maturity (YTM).
Initial YTM = 10%
Since this is a perpetually coupon paying bond, you use PV of perpetuity to find the rate;
PV = Coupon PMT / rate
Given PV as $1,250, new annual rate would be;
1,250 = 100/rate
solve for rate by cross multiplying;
1,250rate = 100
divide both sides by 1,250
rate = 100/1,250
rate = 0.08 or 8%
Therefore, the
interest rate would fall to 8 percent.
