Two taxes on employers, two taxes on employees, OASDI and HI taxes and taxes on the net earnings of the self-employed
Answer:
RecRoom Equipment Company
Date Particulars Debit Credit
1Nov Note Receivable $ 13,200
Account Receivable $ 13,200
RecRoom Equipment Company received an $13,200, six-month, 7 percent note to settle an $13,200 unpaid balance owed by a customer.
31 December Interest Receivable $ 924
Interest Revenue $ 924
To record the accrued interest earned. $13,200*7%= $ 924. As it is for two months the amount would be $ (924/12)*2= $ 154
1 May Cash $ 13,662
Interest Income $ 462
Notes Receivable $ 13,200
RecRoom receives the interest on the note's maturity date. RecRoom receives the principal on the note's maturity date.
Answer:
a.
3.51%
b.
0%
Explanation:
a.
First, we need to calculate the YTM of 6 months zero-coupon bond by using the following formula
Price = Face value / ( 1 + YTM )^numbers of years
96.79 = 100 / ( 1 + YTM )^1
1 + YTM = 100 / 96.79
1 + YTM = 1.0331646
Now calculate the YTM of 1 Year zero-coupon bond
93.51 = 100 / ( 1 + YTM )^1
YTM = 1.0331646 - 1
YTM = 0.0331646
YTM = 3.31646%
YTM = 3.316%
1 + YTM = 100 / 93.51
1 + YTM = 1.06940
YTM = 1.06940 - 1
YTM = 0.06940
YTM = 6.940%
YTM = 6.94%
Hence the forward rate is calculated as follow
Forward rate = [ (1 + YTM of 1 year zero coupon bond ) / ( 1 + YTM of 6 months year zero coupon bond ) ] - 1 = ( 1 + 6.94% ) / ( 1 + 3.316% ) = [ 1.0694 / 1.03316 ] - 1 = 1.03508 - 1 = 0.03508 = 3.508% = 3.51%
b.
At the time of inception the formward rate is 0.
Answer:
Dennis Kozlowski was found guilty of grand larceny, falsifying business records, securities fraud, and conspiracy. He later admitted to have been driven by excessive greed as he overcompensated himself when he served as CEO of Tyco.
Explanation:
Dennis Kozlowski during his crime trial was found to have received "$81 million in unauthorized bonuses, the purchase of art for $14.725 million, and the payment by Tyco of a $20 million investment banking fee to Frank Walsh, a former Tyco director," according to wikipedia.com.
Answer:
Explanation:
What is given:
Budgeted overhead = 175,500
Budgeted labour hours = 13,000
So Budgeted overhead per hour = 175500/13000 = 13.5
Actual labor hours = 14,500
Amount of manufacturing overhead allocated for the year based on direct labour hours = 14,500*13.5 = 195,750
