Answer:
$23,500
Explanation:
Net income is arrived at by deducting relevant expenses for the year from the gross income for the year. In this question, sales income is used to represent gross income. The net income can therefore be calculated as follows:
Net Income = Sales income - Expenses other than rent and interest - Rent - Interest
Net Income = $66,000 - $40,000 - [$45,000 × (1/18)] - 0
= $66,000 - $40,000 - $2,500 - 0
= $23,500
Therefore, net income is Yolanda's net income $23,500.
Note that [$45,000 × (1/18)] is used to calculate rent for only one which is December of the calendar year since the rent was paid for 18 months.
Both must be familiar with the new and old products as well as updates and quick fixes. However those in corporate are in charge of developing new products and keeping the older ones updated.
True. It will use up valuable space.
Answer:
true
Explanation:
Before Friendly Bank handed out the loan to Maddie, it had to perfect an interest on the collateral or security of the loan, and it did it by filing a Form UCC-1.
After the loan is repaid, the bank's interest on the security ceases to exist and it must file a UCC termination statement notifying that the collateral is "free and clear".
