When the price of a bar of chocolate is $1.00, the quantity demanded is 100,000 bars. When the price rises to $1.50, the quantit

Answer:

-Managers will be driven to achieve their targets since these incentives will be awarded only if the company's performance is strong.

Explanation:

Variable pay refers to bonuses or commissions granted upon reaching specific objectives. This type of remuneration serves as a reward for employees achieving their goals.

Conversely, base salary is a constant payment made irrespective of how well one performs.

In this instance, where the HR director at Clearwater Electronics has been tasked with advising the board regarding a proposed variable compensation scheme for senior executives across various departments, such a plan will incentivize those executives to excel, as they will be rewarded if the company accomplishes its objectives

Explanation:With hedge protection, the company must utilize the forward exchange rate applicable at the time of entering the forward contract when the payment date arrives. The question is incomplete. Below are the details that need to be included along with the picture of the spot rate and forward exchange rate.

Answer:

Staples Corporation

A schedule calculating the increase in income tax liabilities for December 31 across the years 2020, 2021, 2022, and 2023:

Year          Pre-tax         GAAP Tax-  Tax Taxable   Income Tax      Deferred

          GAAP Income  able Income    Income      Payable Expense  Liability

                  (a)                     (b)                (c)             25%       25%   (Recovery)

                                                                                of (c)      of (b)  

2020     $230,000      $200,000     $110,000  $27,500 $50,000  $22,500

2021        250,000        220,000      250,000    62,500   55,000     (7,500)

2022       240,000         210,000      240,000    60,000   52,500     (7,500)

2023       240,000         210,000      240,000    60,000   52,500     (7,500)

Total     $960,000      $840,000    $840,000  $210,000 $210,000      0

Explanation:

a) Data and Calculations:

Cost of the depreciable asset = $120,000

Estimated useful life = 4 years

Residual value = $0

Tax depreciation expense = 100% for 2020

GAAP depreciation expense = 25% for 2020, 2021, 2022, and 2023

Tax rate for each year = 25%

Year          Pre-tax         GAAP Tax-  Tax Taxable   Income Tax      Deferred

          GAAP Income  able Income    Income      Payable Expense  Liability

                  (a)                     (b)                (c)             25%       25%   (Recovery)

                                                                                of (c)      of (b)  

2020     $230,000      $200,000     $110,000  $27,500 $50,000  $22,500

2021        250,000        220,000      250,000    62,500   55,000     (7,500)

2022       240,000         210,000      240,000    60,000   52,500     (7,500)

2023       240,000         210,000      240,000    60,000   52,500     (7,500)

Total     $960,000      $840,000    $840,000  $210,000 $210,000      0

Tax Taxable Income for 2020 = $110,000 ($230,000-$120,000)

GAAP Taxable Income = GAAP minus annual depreciation

b) Tax Taxable Income equals GAAP income of $230,000 less 100% depreciation ($120,000) for the first year and 0% for the following years. This results in temporary differences in 2020 between the calculated tax payable and the tax expense for later years. Although there was a tax obligation established in the first year, it is counterbalanced in the years that follow.

Answer:

In 2013, Colgate's weighted average interest rate on its short-term borrowings was:

2.2%.

Explanation:

On page 62 of Colgate Palmolive's 10-K annual report, covering the fiscal year ending December 31, 2013, it was noted that "the weighted-average interest rate for short-term borrowings amounting to $13 in 2013 and $54 in 2012 listed in Notes and loans payable in the Consolidated Balance Sheets as of December 31, 2013, and 2012 was 2.2% and 1.0%, respectively."

The weighted average interest rate is calculated by considering the varying interest rates on short-term borrowings combined with their corresponding weights. These weights assist in calculating the average interest rate based on their proportionate sizes relative to the overall interest expense.

Answer:Jalen journal $

Date

Jan 1,2021

Land Dr. 860,887

Note payable Cr. 860,887

Narration. Issuance of note for the above amount, payable in four installments for land purchase.

June 30,2021

Note payable Dr 215,221.64

Cash Cr. 215,221.64

Narration. Payment of the first installment for the land acquisition.

December 31,2021

Note payableDr 215,221.64

Cash.Cr. 215,221.64

Narration. Payment of the second installment for the land acquisition.

2. Remaining balance on note payable as of December 31, 2021 is $400,000

Interest expense balance is $30,443.28.

Explanation:

The land account is debited to reflect its purchase, while the notes payable account is credited to recognize the liability.

Payments made in the first and second periods debit the respective installment amounts.

The note payable balance indicates the outstanding principal payments of $800,000, whereas the interest expense denotes the additional amount beyond the principal.