Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Profit sharing. Peterborough Medical Devices makes devices and equipment that it sells to hospitals, The organization has a profit-sharing plan that is worded as follows:
The company will make available a profit-sharing pool that will be the lower of the follow two items:1. 40% of income before taxes in excess of the targe profit level, which is 18% of net assets, or2. $7 million.
The individual employee is paid a share of the profit-sharing pool equal to the ratio of that employee's salary to the total salary paid to all employees.
Required:
a) If the company earned $45 million of earnings before taxes and had net assets of $100 million, what would be the amount available for distribution from the profit-sharing pool?
b) Suppose that Marg Watson's salary was $68,000 and that total salaries paid in the company were $25 million. What would Marg's profit share be?
c) What do you like about this profit-sharing plan?
d) What do you dislike about this profit-sharing plan?
On January 1, 2004, Jeff decides that the business will use the equipment for a total of 5 years. What is the revised depreciation expense for 2004?
Based on your response, do you think investors want fraud investigators brought into the company? Illustrate what about potential future investors? Why?
What are the equivalent units for conversion and material using the weighted average technique?
Determine the amount of over- or under-applied overhead and What is the significance of this over- or under-applied amount of overhead
Mueller can buy a newer production machine that will increase fixed costs by $8,000 per year, but will decrease variable costs by $0.40 per unit. What effect would purchase of the new machine have on Mueller's break-even point in units?
Create the entry to record the asset retirement obligation. Use Oil Platform as an account title and Prepare the journal entries to record
Provide the appropriate journal entries, assuming that Jerry Lopez takes two weeks annual leave after being employed for one year and assuming that the tax deductions from the payment for the two weeks is $1200.
Calculation of Allowance for doubtful accounts and Allowance for doubtful accounts, Bad debt expense and Account receivable
Advertising expense totaled $90,000 for the current year, and departmental sales were: How much advertising expense should be allocated to each department?
If you were a business owner or manager, illustrate what would you do to collect on a customer unpaid bill? At what point would you deem the account bad debt and write it off?
Calculation of Salary payable net Taxes - Calculate Gross Pay and Net pay for employee #12's weekly pay.
Determine fixed and variable cost components of the catering costs using the high-low method. Are the facilities at the fairgrounds adequate to handle crowds needed to generate ticket revenues calculated in number 8 above to earn a $6,000 profit? ..
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd