Answer:
still be liable for Hala's contract.
Explanation:
Any contract entered into by any of the partners, before the dissolution of a partnership business is deemed legal hence binding on the partners. This means that the partners will still be liable for the new contract in line with their partnership status.
Although, before a partnership business can be dissolved, at least one of partners must give a notice of intent. If in the process of giving the notice, another member enters in a new contract, such will be valid and partners will still be held liable because the business has still not been dissolved in the eye of the law.
Any contract entered into by any partner in a partnership business aftet dissution becomes illegal hence not binding on other members.
Answer:
A.) $20,000
Explanation:
Kindly check attached picture for detailed explanation
Answer:
Annual deposit= $71,428.57 per year
Explanation:
Giving the following information:
You expect to live to 100 and work until you turn 65. You estimate that you will need $100,000 per year.
Every dollar in the plan earns 7% per year.
You have just turned 22 years old.
First, we need to calculate the amount of money necessary in retirement:
Final value= 100,000*35 years= 3,500,000
Now, using the following formula, we calculate the yearly deposit needed:
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
n= 65-22= 43
FV= 3,500,000
i=0.07
A= (3,500,000*0.07)/[(1.07^22)-1]
A= 245,000/3.43
A= 71,428.57 per year
Answer:
B)taxed only as Elroy's personal income.
Explanation:
A sole proprietorship is owned by one person known as the sole proprietor. His profits are taxed once as personal income. A sole proprietorship doesn't have investors.
I hope my answer helps you
<span>$5,375, The method used is finding the original deprecation per year rate and then find the net book value. Find the difference between this and the original salvage value and divide by the number of years left.</span>
