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Problem - Haines, Inc. prepared the following payroll summary for the current month:
Administrative salaries $10,000
Sales salaries 15,000
Shop wages 21,000
Employee deductions Federal income taxes withheld 11,500
Hospital insurance premiums 1,430
Union dues 1,190
Canada Pension Plan is 4.95 percent of the pensionable earnings with an annual exemption of $3,500 for each employee. Employment Insurance is 1.78 percent of the insurable earnings. None of the current month's salaries and wages exceed the CPP or EI limits. Haines makes a pension contribution equal to 9% of each employee's gross earnings. A vacation pay accrual is also made at 3.6% of the gross earnings. Haines has 10 employees.
Required - Prepare the journal entries to record: (A) The month's payroll accrual. (B) The month's employer payroll taxes. (C) The employer's pension contribution and vacation pay accrual.
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.
Accounting problems, Draw a detailed timeline incorporating the dividends, calculate the exact Payback Period b) the discounted Payback Period. the IRR, the NPV, the Profitability Index.
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Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR
Distinguish between liquidity and profitability.
Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.
Simple Interest, Compound interest, discount rate, force of interest, AV, PV
CAPM and Venture Capital
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