n the last quarter of​ 2007, a group of 64 mutual funds had a mean return of 2.5​% with a standard deviation of 4.6​%. Consider the Normal model ​N(0.025​,0.046​) for the returns of these mutual funds. ​a) What value represents the 40th percentile of these​ returns? ​b) What value represents the 99th​ percentile? ​c) What's the​ IQR, or interquartile​ range, of the quarterly returns for this group of​ funds? (Please show work)

Assume a Spanish affiliate repatriates as dividends one quarter of the after tax profits it earns( i.e dividend payout ratio = 25%). If the income tax rate in Spain is 30% and there is a withholding tax of 15% what is the effect on the parent company’s US tax bill if the Spanish affiliate had pre-tax profit equal to $1000,000 ? Assume the US tax rate is 35%.

Select the right answer:
a. $12,500 additional taxes paid
b. $12,500 tax credit received
c. $13,750 additional taxes owed
d. $13,750 tax credit received

Note: Please answer the right one because i have found the wrong answer on this one from different people.

Q1.ABC Company has projected sales and production in units for the second quarter of 2017 as follows

Cash production costs are budgeted at SR 7 per unit produced. Of these production costs, 30% are paid in the month in which they are incurred and the balance in the following month. Selling and administrative expenses (all paid in cash) amount to SR 70,000 per month. The accounts payable balance on March 31 totals $100,000, all of which will be paid in April.

Assume that all units will be sold on account for SR 20 each. Cash collections from sales are budgeted at 70% in the month of sale, 20% in the month following the month of sale and the remaining 10% in the second month following the month of sale. Accounts receivable on March 31 totaled SR 300,000 (SR50, 000 from February's sales and the remainder from March.)

Required

A. Prepare a schedule for each month showing budgeted cash disbursements for ABC Company.

B. Prepare a schedule for each month showing budgeted cash receipts for ABC Company.

The following are Jake’s Tools production costs for the quarter ended September 30th:

What amount of costs should be traced to specific products in the process?

Group of answer choices

- $225,000

- $175,000

- $150,000

- $325,000

Charlie Company has variable costs of $80 per unit, total fixed costs of $200,000, and a break-even point of 5,000 units. If the variable cost per unit decreases by $8, how many units must Charlie Company sell to break even?

Group of answer choices

- 2,778 units

- 4,167 units

- 2,500 units

- 6,250 units

William George is the marketing manager at Crunchy Cookie Company. Each quarter, he is responsible for submitting a sales forecast to be used in the formulation of the company’s master budget. George consistently understates the sales forecast because, as he puts it, “I am reprimanded if actual sales are less than I’ve projected, and I look like a hero if actual sales exceed my projections.”

b. What measures might be taken by the company to discourage the manipulation of sales forecasts?

Question 2

For the second quarter of the following year Cloaks Company has projected sales and production in units as follows:
Jan Feb Mar
Sales 58,000 60,000 65,000
Production 62,000 57,000 58,000
Cash-related production costs are budgeted at $8 per unit produced. Of these production costs, 40% are paid in the month in which they are incurred and the balance in the next month. $190,000 per month will account for Selling and administrative expenses. On January 31 the accounts payable balance totals $230,000, which will be paid in February.
All units are sold on account for $12 each. Cash collections from sales are budgeted at 60% in the month of sale, 20% in the month following the month of sale, and the remaining 20% in the second month following the month of sale. On January 1 accounts receivable totaled $650,000 ($120,000 from November’s sales and the remaining from December).

Required:
1. Prepare a schedule for each month showing budgeted cash disbursements for Cloaks Company.




















 

2. Prepare a schedule for each month showing budgeted cash receipts for Cloaks Company.

A payroll summary for Mark Consulting Company, owned by Mark Fronke, for the quarter ending June 30, 2016. The firm made the required tax deposits as follows: a. For April taxes, paid on May 15. b. For May taxes, paid on June 17. Date Wages Paid Total Earnings Social Security Tax Deducted Medicare Tax Deducted Income Tax Withheld April 8 $ 2,252.00 $ 139.62 $ 32.65 $ 223.00 15 2,340.00 145.08 33.93 230.00 22 2,252.00 139.62 32.65 223.00 29 2,296.00 142.35 33.29 227.00 $ 9,140.00 $ 566.67 $ 132.52 $ 903.00 May 5 $ 2,208.00 $ 136.90 $ 32.02 $ 219.00 12 2,252.00 139.62 32.65 223.00 19 2,252.00 139.62 32.65 223.00 26 2,296.00 142.35 33.29 227.00 $ 9,008.00 $ 558.49 $ 130.61 $ 892.00 June 2 $ 2,340.00 $ 145.08 $ 33.93 $ 230.00 9 2,252.00 139.62 32.65 223.00 16 2,296.00 142.35 33.29 227.00 23 2,252.00 139.62 32.65 223.00 30 2,208.00 136.90 32.02 219.00 $ 11,348.00 $ 703.57 $ 164.54 $ 1,122.00 Total $ 29,496.00 $ 1,828.73 $ 427.67 $ 2,917.00 1. Using the tax rates given below, and assuming that all earnings are taxable, make the general journal entry on April 8, 2016, to record the employer’s payroll tax expense on the payroll ending that date. (Round your answers to 2 decimal places.) Social security 6.2 percent Medicare 1.45 FUTA 0.6 SUTA 5.4

A- Record payroll tax expense

. B-2. Prepare the entries in general journal form to record deposit of the employee income tax withheld and the social security and Medicare taxes (employee and employer shares) on May 15 for April taxes and on June 17 for May taxes. (Round your answers to 2 decimal places.)

Swifty, Inc. prepared the following cash budget for the fourth quarter. Fill in the missing amounts, assuming that Swifty desires to maintain a $15,000 minimum monthly cash balance and all equipment was purchased during December. Any required borrowings and repayments must be made in even increments of $1,000. (Enter answers in necessary fields only. Leave other fields blank. Do not enter 0.)