If Ray earns $900 a week and deductions are 28% Ray's take home pay is:
$648 a week
If we assume that the deductions of 28% are taken out of the $900 weekly we will multiply 900 by 0.28 = 252. Then subtract 252 which is the deduction amount from the 900 and we end up with take home pay of $648.
Answer:
$114,000
Explanation:
Given that,
Net credit sales = $2,250,000
Opening allowance for Doubtful Accounts = $36,000
Uncollectible accounts receivable written off = $90,000
Firstly, we need to find the excess amount to be adjusted to allowance for Doubtful Accounts. It is calculated as follows:
= Uncollectible accounts receivable written off - Opening allowance for Doubtful Accounts
= $90,000 - $36,000
= $54,000
Allowance amount:
= 10% of the balance in receivables
= 0.1 × $600,000
= $60,000
Therefore, the required adjustment to the Allowance for Doubtful Accounts at December 31, 2017 is determined by summing up the excess amount and allowance amount.
= Excess amount to be adjusted to allowance for Doubtful Accounts + Allowance amount
= $54,000 + $60,000
= $114,000
Answer:
a) YTM = 9.8%
b) realized compound yield is 9.9%
Explanation:
a) PMT = 80
par value FV = 1000
coupon rate = 8%
curent price PV = 953.1
years to maturity n = 3
Yield to maturity (YTM) = 
= 
= 9.8%
b) r2 = 10% = 100%+10%=1.1
r3 = 12% = 100%+12%=1.12
Realized compound yield:First, find the future value (FV. of reinvested coupons and principal
FV = ($80 *1.10 *1.12) + ($80 * 1.12) + $1080 = $1268.16
let a be the rate that makes the future value $1268.16
953.1(1+y)³ =$1268.16
(1+y)³=1.33
1+y=1.099
y = 0.099 = 9.9%
IRA stands for Individual Retirement Arrangements. Jimmy can access your money through an IRA withdrawal any time he’d like. There will only be difference in the tax he will have to pay. Without penalty Jimmy in to take his IRA withdrawal once he<span> reaches 59 years. So, Jimmy will have to wait 9 years to be able to withdraw money without penalty.</span>
Answer:
Budgeted purchases for second quarter is 165000 pounds
Explanation:
The per unit requirement of material A is 2 pounds.
We first need to calculate the closing inventory of Material A at the end of first quarter and at the end of second quarter.
<u />
<u>End of first quarter</u>
The closing inventory for First quarter should be enough to meet 25% production requirement for next quarter. 25% production requirement for second quarter is 40000 pounds.
Production requirement - Second quarter = 80000 * 2 = 160000
25% of 160000 = 40000 pounds
<u />
<u>End of second quarter</u>
The closing inventory for First quarter should be enough to meet 25% production requirement for next quarter. 25% production requirement for second quarter is 45000 pounds.
Production requirement - Second quarter = 90000 * 2 = 180000
25% of 180000 = 45000 pounds
Budgeted Purchase -Second quarter = Closing Inventory in pounds + production in pounds - Opening Inventory in pounds
Purchase requirement - First quarter = 45000 + 160000 - 40000 = 165000 pounds
