Record the adjusting entry for salaries payable (LO3-3) Fighting Irish Incorporated pays its employees $3,220 every two weeks ($230/day). The current two-week pay period ends on December 28, 2021, and employees are paid $3,220. The next two-week pay period ends on January 11, 2022, and employees are paid $3,220. Required: Record the adjusting entry on December 31, 2021. Calculate the 2021 yearend adjusted balance of Salaries Payable (assuming the balance of Salaries Payable before adjustment in 2021 is $0).

Individual Web pages or clusters of pages that function as supplements to a primary site are  microsites.

What is a microsite?

• Microsites are brand-specific websites (or a single web page) that businesses use to advertise their particular goods, occasions, or campaigns. These have a different URL than their corporate websites and are hosted on their own domain or a subdomain of the company.
• A microsite is a branded content website, sometimes known as a "content centre," that is independent of your brand's URL and/or company website.
• Microsites can be subdomains of your main website or even a subdirectory within it; they are not required to have entirely unique URLs.

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Answer:

Payback period = 2.5 years

Explanation:

given data

Year    0            1           2           3

cash    -$500  $150   $200   $300

to find out

What is the project's payback

solution

Year        Cash flows   Cumulative Cash flows

0                 500             500

1                  150              350

2                 200             150

3                 300              150

so

Payback period = Last period with a negative cumulative cash flow +(Absolute value of cumulative cash flows at that period ÷ Cash flow after that period)      .........................1

put here value we get

so

Payback period =    

Payback period = 2.5 years

Final answer:

The payback period for the project is approximately 2.75 years.

Explanation:

The payback period is a financial metric used to assess the time it takes for an investment or project to generate enough cash flows to recover the initial investment cost. It's a simple tool for evaluating the risk and return of an investment, with shorter payback periods generally indicating lower risk. The payback period is the amount of time it takes to recover the initial investment in a project.

To calculate the payback period, we sum the cash flows until we reach or surpass the initial investment.

In this case, the initial investment is $500, and the cash flows are: $150, $200, and $300 in years 1, 2, and 3 respectively.

By adding the cash flows together, we find that the project's payback is 2 years and 25% of year 3, which is approximately 2.75 years.

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Answer: Option (e) is correct.

Explanation:

Given that,

Company's revenue = $530,000

Profit before taxes = $98,000

Product costs = $390,000

Company's gross margin = Company's revenue - Product costs

                                          = $530,000 - $390,000

                                          = $140,000

Therefore, The company's gross margin totals $140,000.

Answer:

This depends on the type of interest charged and the length of the loan. Generally speaking, floating loans should adjust semi-automatically to changes in interest rates. So any change affects them directly.

On the other hand, fixed rate loans, most mortgages and installment loans generally carry a fixed interest rate that doesn't depend on the market interest rate. Some mortgages (around 33% of total) are variable rate mortgages that are affected by changes in the market interest rate, but they adjust on a yearly basis.

Answer:

It will deposit $ 10,082.68 per yearto fund their children tuiton

Explanation:

We calculate the present value of the tuiton:

We must notice payment are made atthe beginning of the year. So this will be an annuity-due

C 40,000 per year

time 4 year

rate          7% = 7/100 = 0.07

PV $144,972.6418

we round to 144,972.64

Then, we have two children and we stop the payment when the oldest children goes into college.

so one tuiton must be carryied two years into the future:

Principal $144,972.64

time              2 years

rate                      0.07000

Amount 165,979.18

We add both to get the total value of our fund:

144,972.64 + 165,979.18 = 310,951.82 = 310,952

Finally we calculate the couta of this annuity for 17 years

PV  $310,952.00

time      17 years

rate               7% = 0.07

C  $ 10,082.68

Based o the fact that there are two children involved and the annual savings have to be uniform, the annual amount to fund your children's education will be $10,808.

How much should you deposit yearly?

The amount needed for both children is:

= 2 students x ( College expenses x Present value factor for Annuity due, 7%, 4 years)

= 2 x (40,000 x 3.6243)

= $271,597

This is the total amount to be saved so the amount to be saved yearly is:

271,597 =  Amount x ( ( 1 + 7%)¹⁵ - 1) / 7%

Amount = 271,597 / 25.1290

= $10,808

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