A man earned wages of ​$33,000​, received ​$2400 in interest from a savings​ account, and contributed ​$3600 to a​ tax-deferred retirement plan. He was entitled to a personal exemption of ​$2700 and had deductions totaling ​$4960. Find his gross​ income, adjusted gross​ income, and taxable income.

His gross income was $---- ​(Simplify your​ answer.)

Compute the total dollar return earned from a bond's coupon interest and the reinvestment of coupons from issue date to end of period 3.

Term to Maturity: 2 years

Par Value: $1,000

Coupon Rate: 7.30%

Yield to Maturity remains at 7.30% for the entire length of the bond maturity (2 years)

The bond pays semi-annual coupon payments

Gabriela, as a condition of employment, signs an agreement authorizing GRG, Inc. to deduct, from earned wages, any cash shortages resulting from her work as a cashier. She files a charge through the Department of Labor arguing that, despite the agreed-upon wage deductions, that GRG, Inc. has violated her rights under the FLSA by imposing such requirements. She argues she should not be penalized due to her "inadvertence" or "negligence". She argues she did not intend to cause the loss to GRG, Inc.. Does her argument have merit? Does GRG, Inc. prevail? Why, why not

E2-8 (Static) Recording Investing and Financing Activities LO2-4

Kelsey Baker founded GolfDeals.com at the beginning of February. GolfDeals.com sells new and used golf equipment online. The following events occurred in February.

1. Borrowed $30,000 cash from a bank, signing a note due in three years.
2. Received investment of cash by organizers and distributed to them 500 shares of $0.10 par value common stock with a market price of $30 per share.
3. Purchased a warehouse for $115,000, paying $23,000 in cash and signing a note payable for the balance on a 10-year mortgage.
4. Purchased computer and office equipment for $20,000, paying $4,000 in cash and owing the rest on accounts payable to the manufacturers.
5. Loaned $1,000 to an employee who signed a note due in three months.
6. Paid $2,000 to the manufacturers in (d) above.
7. Purchased short-term investments for $10,000 cash.

repare journal entries for the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Your clients, both just turned 40, will retire when they turn 62. They have a current salary at an annual rate of ($10,000*salary scalar + $100,000), being paid equally at the end of each month. They expect a 3% raise in their salary every year until they retire. They deposit 12% of their monthly salary in their 401(k) account that generates an annual rate of return of 10%, compounded daily. In addition, their employer matches their contribution with 5% of their monthly salary to the same 401(k) account.

Q1. Determine the cash flows pattern of the monthly contributions to the 401(k) account within each year; and calculate and explain precisely your choice of interest rate, i.e., EAR/EPR/PER, used in your analysis. Also, calculate the yearend value of the 401(k) contributions for each year. Verify your work for Years 1 and 2 only with either the formula or the financial calculator approach!

Q2. Determine the pattern of the year-end values of the 401(k) contributions across years; and calculate and explain precisely your choice of interest rate, i.e., EAR/EPR/PER, used in your analysis. Also, calculate their 401(k) account balance upon their retirement. Verify your work with the formula approach!

At the end of each year, your clients will receive a bonus of 15% of their annual salary. Your clients commit to deposit part of their annual bonus, $14,000, in a 529 Plan account each year for financing their daughter’s, who just turned 12, college education. They will keep contributing to the 529 account until their daughter finishes college. Any remaining amount from the annual bonus check will be deposited in an IRA account. The 529 Plan account and the IRA account are expected to generate annual rates of return of 8% and 10%, respectively. And both accounts are compounded daily.

Q3. Determine the cash flows pattern of their contributions to the IRA account; and calculate and explain precisely your choice of interest rate, i.e., EAR/EPR/PER, used in your analysis. Also, calculate their IRA account balance upon their retirement.

Q4. Determine the cash flows pattern of their contributions to the 529 Plan account; and calculate and explain precisely your choice of interest rate, i.e., EAR/EPR/PER, used in your analysis. Also, calculate the 529 Plan account balances at the time their child starts college. Verify your work with either the formula or the financial calculator approach!

Currently, annual college expenses are running at $30,000, and are expected to grow at an annual rate of 5%. Their daughter will enter college when she turns 18, and complete the degree program in five years. Your clients expect their daughter to be responsible for 30% of her college expenses via the work-study program. All annual college expenses will be due at the beginning of each year. Your clients will tap into the 529 Plan account for paying their daughter’s college expenses.

Q5. Will there be sufficient funding in the 529 account for financing their daughter’s college expenses? If not, when will the funding run out of money? Support your answer numerically by showing the annual balances of the 529 Plan account through their daughter’s college years.

With a positive balance in the 529 account at their daughter’s college graduation, your clients will partially support her graduate study with money left in the 529 account. Their daughter plans to work for three years before returning to graduate school for an MBA. Currently, annual expenses for a highly competitive full-time 2-year MBA program are running at $55,000, and are expected to grow at an annual rate of 4%. Your clients will offer assistance to their daughter’s pursuit of graduate education through the 529 account at one-third of the annual expenses during her MBA study.

Q6. Will there be sufficient funding in the 529 account for subsidizing their daughter’s MBA program’s expenses? If not, when will the funding run out of money? Support your answer numerically numerically by showing the annual balances of the 529 Plan account through her MBA study.

If there is money left (i.e., positive balance) in the 529 account after their daughter’s MBA study, your client will transfer the balance to their IRA account.

Q7. How large will be the nest egg upon the retirement of your clients? In other words, calculate the combined balance of the 401(k) account and their IRA account when they retire.

A business students claims that on average an MBA students is required to prepare more than five cases per week. To examine the claim, a statistics professor ask a random sample of ten MBA students to report the number of cases they prepare weekly. The results are given below. Can the professor conclude that the claim is true, at the .05 level of significance, assuming the number of cases is normally distributed with a standard deviation of 1.5?

1) Is the test statistic for this test Z or t?

2) What is the value of the test statistic of the test? ( Enter 0 if this value cannot be determined with the given information.)

3) What is the pvalue of the test? (Enter 0 if this value cannot be determined with the given information.)

4) What is the relevant bound of the rejection region? (Enter 0 if this value cannot be determined with the given information.)

5) What decision should be made?

Select one:

a. Do not reject the null hypothesis

b. Accept the null hypothesis

c. Can not be determined from given information

d. Reject the null hypothesis

MBA Corp is considering whether to expand widget production. This would require the purchase of a new widget-producing machine at a cost of $5,400,000. The machine would produce 450,000 widgets per year during its useful life of three years, and would be depreciated for tax purposes at a rate of $1,800,000 per year. The machine would not have any salvage value. Expanding widget production would also require the use of a building that could otherwise be leased for $500,000 per year. Working capital required for the new machine would be 12% of the next year’s sales. Widget prices are $20 and are expected to remain stable. The materials and labor required to produce a widget cost $12, and these costs are also expected to remain stable. The corporate income tax rate is 30%. The discount rate is 6% per year. (a) Forecast the incremental cash flows resulting from the purchase of a widget machine on a year-by-year basis and draw them on a timeline. (b) Decide whether MBA Corp should go ahead with the purchase of the new machine.

show calculations work and calculator strokes

On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company’s first month.

The company's chart of accounts follows:

Use the following information:

1. Prepaid insurance of $128 has expired this month.
2. At the end of the month, $700 of office supplies are still available.
3. This month’s depreciation on the computer equipment is $400.
4. Employees earned $340 of unpaid and unrecorded salaries as of month-end.
5. The company earned $1,600 of commissions that are not yet billed at month-end.
6. 5a. Prepare the income statement for the month of April 30.
7. 5b. Prepare the statement of retained earnings for the month of April 30.
   5c. Prepare the balance sheet at April 30.
   6a. Prepare journal entries to close the temporary accounts and then post to Requirement 6b.
   6b. Post the journal entries to the ledger.
   7. Prepare a post-closing trial balance.