What should the employee’s wages be on the 9/30/12 payroll? The PT-salaried employee would be paid for $999.96 on the 9/30/12 pay date. (40,000/1560=$25.64*(65*60%=39) =$999.96 6*260=1,560 4. A FT-salaried employee has a termination date of 9/26/12. The employee is paid semi-monthly with an annual salary of $52,000.
Expenses associated with Jeremy’s store include $40,000 in salary (and employment taxes) to employees, $45,000 of cost of goods sold, and $18,000 in rent and other administrative expenses. b. As a salesperson, Alyssa incurred $2,000 in travel expenses related to her employment that were not reimbursed by her employer. c. The Johnsons own a piece of investment real estate. They paid $500 of real property taxes on the property and they incurred $200 of expenses in travel costs to see the property and to evaluate other similar potential investment properties.
True False The job cost sheet is used in both job-order and process costing. True False Byklea Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 200 units. The costs and percentage completion of these units in beginning inventory were: A total of 7,000 units were started and 6,700 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: The ending inventory was 90% complete with respect to materials and 45% complete with respect to conversion costs.
Bank Of America’s acquisition of Merrill Lynch Along with the fire sale of Bear Stearns and the bankruptcy of Lehman Brothers, the rescue of Merrill lynch confirmed the worst fears about the financial crisis. After a weekend of whirlwind deal-making, Merrill Lynch had sold their troubled brokerage firm to the Bank of America Corporation, dodging the financial sinkhole that was swallowing Lehman Brothers. As per some current and former Bofa executives and employees, the merger was really messy. On Saturday, September 13, Ken Lewis (Bofa CEO) and John Thain(Merrill CEO) met to discuss a strategic relationship. Thain proposed a 10% percent minority investment in Merrill, but Lewis wanted complete acquisition.
The total amount is $1,517,391 |13. Tuttle Buildings Inc. has decided to go public by selling $6,000,000 of new common stock. Its | |investment bankers agreed to take a smaller fee now (6% of gross proceeds versus their normal 10%) in exchange for a 1 year option to | |purchase an additional 250,000 shares at $7.00 per share. The | |Investment bankers expect to exercise the option and purchase the 250,000 shares in exactly one year, when the stock price is forecasted to| |be $6.50 per share. However, there is a chance that the stock | |price will actually be $12.00 per share one year from now.
Situation: You are the General Sales Manager for Bentley Business Systems (1287 Main Street, Wolf Point, MT 58904), a supplier of automation equipment in the Northwest United States. In today’s mail, you receive the following request letter from Jean Parchman, Assistant General Manager, Acres of Bargains, 508 Woodbine Avenue, Filmore, SD 57503. December 9, 2002 Dear Sales Manager: I received our monthly bill from Bentley and noticed a $400 service charge for services rendered on October 1 due to a printer malfunction. Since we have a service contract with Bentley, yet we are not apparently covered by it, I would like to request a cancellation of our service contract. Also, please deduct the $400 service charge from moneys we have paid thus far on the contract.
Based on what he has learned, he reexamines his decision to hedge a $500 million face value portfolio of longer-term debt that his firm plans to issue. He is currently hedging with a short position of 5,000 T-bond futures contracts ($100,000 notional value per contract). If the debt could be issued today, it would be priced at 124-16/32 to yield 4.5 percent (4.5%). With its 6% coupon and 30 years to maturity, the Macauley duration of the debt would be 15.80 years. On the futures side, the futures prices are based on the cheapest-to-deliver (CTD) bonds, which are trading at 134-24/32 to yield 4.0 percent (4.0%).
What it means to be in compliance with GAAP internal controls best practices. While the company is doing some things well, there is always room for improvement. Thus, our report will look at both aspects of LBJ’s accounting practices. The purchase of an indelible ink machine was raised, which will be discussed in detail, with a recommendation to proceed with purchase. Lastly, we will summarize the information presented with a synopsis of what internal control measures are recommended.
They were required to meet certain product specific sales quotas such as a number of alignments per shift and dollar volume quotas based on the value of goods and services sold per hour. Sears management implemented a fixed dollar amount, or FDA per hour which varied depending on the classification. The net effect of this action was to place these employees on a commission plan whereby the more they contribute to the shop flat rate objective ($55 per hour), the more they could earn. The employee received $3.25 per every shop flat rate objective per hour he/she contributed. The California Department of Consumer Affairs (DCA) handled complaints regarding false or misleading advertising, fraud, and unfair business practices.