BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee. Gross Pay through August 31 Gross Pay for September a. $ 5,700 $ 1,800 b. 2,600 2,700 c. 123,300 9,200 rev: 05_16_2019_QC_CS-168714 Compute BMX’s amounts for each of these four taxes as applied to the employee’s gross earnings for September under each of three separate situations (a), (b), and (c). (Round your answers to 2 decimal places.)

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Answer 1
Answer:

Answer:

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Explanation:

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A company sells 10,000 shares of previously authorized stock at the par value of $10 per share. What's the correct entry to record the transaction?
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A company advertises that its products are environmentally friendly in order to sell to climate-conscious consumers at a higher price. What is this practice called?

Answers

Answer: Greenwashing

Explanation:

Greenwashing is the process of giving out a false impression or misleading the public about how the product of a company are more environmentally friendly. Companies have used greenwashing in commercials and press releases emphasizing their pollution minimization efforts and clean energy but in reality, the firm may not have a genuine commitment to environmental friendliness. Companies that make such claims are embroiled in greenwashing.

For example, a company might claim that their goods are made from recycled materials and this may be false. This is greenwashing.

Two towns, each with three members, are deciding whether to put on a fireworks display to celebrate the New Year. Fireworks cost $300. In each town, some people enjoy fireworks more than others.In the town of Bayport, each of the residents values the public good as follows:

Resident Value
(Dollars)
Darnell 70
Eleanor 90
Jacques 150
The total benefit of the fireworks display to the town of Bayport is ($ ).

Therefore, fireworks (would/would not) pass the cost-benefit analysis in the town of Bayport.

The mayor of Bayport proposes to decide by majority rule and, if the fireworks referendum passes, to split the cost equally among all residents.

Who would vote in favor of the fireworks referendum? Check all that apply.

Darnell

Eleanor

Jacques

Answers

Answer:

Thus, option b and c are correct.

Explanation:

Suppose that there are two towns. Each town has three members to put on a fireworks display. The cost of fireworks is $300.

Find the total benefits of the fireworks display to the town of B.

Total benefit = value to Darnell + value to eleanor + value to Jacques

= 70+90+150 =$310

Thus, total benefit of the fireworks display to the town of B is $310.

Since the total benefits to the persons is greater than the total costs, therefore, fireworks would pass the cost- benefits analysis in the town of B.

The mayor of B said to spilt the cost among all the residents. Each of the residents will bear s $100 ($300/3).

Darnell and Eleanor will not vote for this because cost to them is more than the value to them. Remaining Jacques

will vote for this because cost to him is less than the value to him for this.

Thus, Jacques will vote in favor of this.

Thus, option c is correct.

Therefore, vote would not yield the same answer as the cost-benefit analysis.

Find the total benefits of the fireworks display to the town of RH.

Total benefit = value to kyoko + value to Musashi + value to Rina

= 50 +110+ 120 = $280

Thus, total benefit of the fireworks display to the town of RH is $280.

Since the total benefits to the persons is less than the total costs, therefore, fireworks would not pass the cost- benefits analysis in the town of RH.

The mayor of RH said to spilt the cost among all the residents. Each of the residents will bear $100 &$300/3).

Kyoko will not vote for this because cost to them is more than the value to them. Remaining Musashi and Rina will vote for this because cost to him is less than the value to him for this.Thus, Musashi and Rina will vote in favor of this.

Thus, option b and c are correct.

Therefore, vote would not yield the same answer as the cost-benefit analysis.

The following statements are correct about the provision of public goods.

It is hard for the government to decide the appropriate amount of public goods to produce because people have differing preferences regarding such goods. Thus, option b is correct.

AIE Industries plans to purchase a new delivery truck for $250,000. The company has been quoted an annual rate of 6.5 percent with discount interest and a compensating balance of 2 percent.a. How much will AIE have to borrow?
b. What is the effective rate on this loan?

c. If AIE can convince the bank to remove the compensating balance requirement, what is the effective rate?

Answers

Answer:

a. AIE will have to borrow $25,5102.04  

b. The Effective Rate on this Loan is 6.63%

c. If AIE can convince the bank to remove the compensating balance requirement the  effective rate is 6.50%

Explanation:

In order to calculate how much will AIE have to borrow we would have to use the following formula:

Amount to be borrowed = Cost of Truck / (1 - Compensating balance)

Amount to be borrowed = $250000 / (1 - 0.02)

a. Amount to be borrowed = $25,5102.04

In order to calculate the effective rate on this loan we calculate the following:

Effective Rate on this Loan = Interest / Amount received

Effective Rate on this Loan = 16581.63 / 250000

b.  Effective Rate on this Loan = 6.63%

c. If AIE can convince the bank to remove the compensating balance requirement the Effective rate = annual rate, hence the effective rate is 6.50%

Final answer:

AIE will need to borrow approximately $255,102 at an effective interest rate of 6.63%. If the compensating balance requirement is removed, the effective rate will be 6.5%.

Explanation:

a. AIE will need to borrow the amount of the truck ($250,000) divided by 1 minus the compensating balance rate (2%). So, the company will have to borrow $250,000 / (1 - 0.02) = $255,102.

b. The effective interest rate is the discount interest divided by (1 - compensating balance), which is 6.5% / (1 - 0.02). The effective rate is thus approximately 6.63%.

c. If the compensating balance requirement is removed, the effective rate will be the same as the quoted rate, which is 6.5%%.

Learn more about Effective Interest Rate here:

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At December 31, 2018, Novak Corp. Company had a credit balance of $ 18,000 in Allowance for Doubtful Accounts. During 2019, Novak Corp. wrote off accounts totaling $ 13,300. One of those accounts ($ 3,200) was later collected. At December 31, 2019, an aging schedule indicated that the balance in Allowance for Doubtful Accounts should be $ 27,200. Prepare journal entries to record the 2019 transactions of Novak Corp. Company

Answers

Answer:

Explanation:

The journal entries are shown below:

1. Allowance for Doubtful Accounts A/c Dr $ 13,300

      To Accounts receivable A/c $ 13,300

(Being written off amount is recorded)

2. Accounts receivable A/c Dr  $3,200

      To  Allowance for Doubtful Accounts A/c $3,200

(Being reverse written off)

3. Cash A/c Dr  $3,200

        To Accounts receivable A/c  $3,200

(Being amount collected)

4. Bad debt expense A/c Dr   $19,300

           To Allowance for doubtful debts   $19,300

(Being bad debt expense is recorded)

The computation of the bad debt expense is shown below:

Ending balance of Allowance for Uncollectible Accounts = Beginning balance of Allowance for Uncollectible Accounts + 2019 bad debts - 2019 write off amount  + collected amount

$27,200 = $18,000 + 2019 bad debts - $13,300 + $3,200

$27,200 = $7,900+ 2019 bad debts  

So,2019 bad debts = $27,200 - $7,900 = $19,300

Highlight the possible risks and problems that should be address during the implementation process?

Answers

Answer:

In simple words, implementation process refers to the stage under which the strategies and plans are converted into actions. This is one of the main stages as the overall result depends highly on this stage.

In this stage, the supervisor should make sure that the workers are giving their fullest for the job, are the resources needed to perform the job available in adequate quantity.

The best way to implement any strategy is to make short goals with short time periods and evaluate each phase if he team is performing up to the mark.

Every organization needs some degree of flexibility and standardization. True False Being overly committed to following rules can harm an organization and keep it from growing. True False Every organization needs either a degree of ________ to adapt to new situations or some degree of ________ to make routine tasks and decisions as efficient and effective as possible. standardization; flexibility culture; vision flexibility; standardization structure; design

Answers

Answer:

1. True: Every organization needs some degree of flexibility and standardization.

2. True: Being overly committed to following rules can harm an organization and keep it from growing.

3. flexibility; standardization.

Explanation:

It is really important and necessary that all organization have some degree of flexibility and standardization. Every organization is expected to be flexible, in order to be able to effectively manage potential changes or challenges that arises in business. They should also be standardized, by having proper policies, strategies and structure for the purpose of running the business smoothly and efficiently.

However, if an organization is overly committed to following rules, this can cause harm to it's business operations and thereby hindering its growth and development.

Hence, some degree of flexibility is needed in every organization in order to adapt to new situations or some degree of standardization to make routine tasks and decisions as efficient and effective as possible.

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