Answer:
The rest of the question and the answer are attached.
To get the percentages, the following formula was used;
= (Account/ Sales) * 100
For instance, for the Fixed Assets it was;
= (37,200/48,200) * 100
= 77.18%
Answer:
a. no contract at all
Explanation:
While a contract can be either written or verbal, the vast majority of contracts never get written down or accepted with a signature. Instead, accepting a contract is usually done by exchanging money for a product or service, like purchasing something from a store. But, when it comes to complex contracts that involve multiple terms and conditions, it’s best to get the agreement in writing. For instance, if you’re creating a Service Agreement, you must have all the basic elements of validity in place so you can successfully resolve any disputes that arise. Without a valid contract, you won’t be able to enforce any of its terms (such as receiving reimbursement for work-related expenses or retaining ownership of your intellectual property). If a court or tribunal rules a contract void, it means the contract has no force or effect, so neither party is bound by it and neither party can rely on it . In this case the contract is void and that means there no contract at all .
Answer:
The property will be depreciated using the remaining 3 years of its life after the tax-free incorporation transfer year. This is because Dan had already depreciated the property for 2 years before the transfer.
Explanation:
Sec. 351 allows a tax-free incorporation transfer if certain requirements are met, including that the property must be transferred to Fleck Corporation by Dan in exchange for stock in Fleck Corporation, and, immediately after the exchange, the Fleck Corporation is in control.
<u>Full question:</u>
Angela is part of the senior management of Fifian Inc., an event management company. She along with other members of the senior management plans the annual budget of the company. Angela, however, is not required to take inputs from or involve the middle and supervisory managers of the company in this planning process. In the given scenario, Fifian Inc. most likely uses _____.
A. top-down budgeting
B. incremental budgeting
C. bottom-up budgeting
D. zero-based budgeting
<u>Answer:</u>
In the given scenario, Fifian Inc. most likely uses top-down budgeting
<u>Explanation:</u>
Top-down budgeting relates to a budgeting system where senior management equips a high-level estimate for the company. Through top-down budgeting, the company’s administration views prior practices and contemporary market circumstances.
Customarily, department directors and lower-level staff do not partake in the meetings but may put forward proposals for consideration. Such a kind of budget concentrates on the overall germination of the organization. Since managers are not a member of the budget-making method, they may not perceive much urge to assure their success.
A reduction in retained earnings of $2,950,000.
$37(500,000 x .14) = &2,590,000
