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Monthly Payroll Entries
Aggie Co. sells agricultural products. Aggie pays its salespeople a salary plus a commission.
The salary is the same for each salesperson, $1,000 per month. The commission varies by length of employment and is a percentage of the company's total gross sales. Each salesperson starts with a commission of 1.0%,which is increased an additional 0.5% for each full year of employment with Aggie, to a maximum of 5.0%. The total gross sales for the month of January were $120,000. Aggie has six salespeople as follows:
Number of Years Employment
Frank
10
Sally
9
Tina
8
Barry
6
Mark
3
Lisa
075
Assume that the FICA rate is 7.65%, the FUTA rate is 6.2%, and the state unemployment rate is 5.4%. (Assume that the federal government allows the maximum credit for state unemployment tax paid.) The federal income tax withholding rate is 30%. Compute the January salaries and commissions expense, and make any necessary entries to record the payroll transactions including cash payment of all the taxes payable.
Electricity costs for the plant assembling the Presario computer line of products and transportation costs for shipping the Presario line of products to a retail chain
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The rest-free rate is 5%, the required market return is 10%, the risk premium for small stocks (rSMB) is 3.2%, and the risk premium for value stocks (rHML) is 4.8%. If ai = 0, bi = 1.2, ci = - 0.4, and di = 1.3, what is the stock's required return..
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