The financial plan is a section of a business plan that is only shared with those who really need to know such as loan officials, lawyers & accountants.
Answer:
A. Wilma must include the $1,000 of interest in her income this year.
Explanation:
the interest is taxed when is being credited to the account and this is why Wilma must include it in her income for this year.
Answer:
No, contracts for personal services are not assignable.
Explanation:
According to a different source, these are the options that come with this question:
Yes, as long as the assignment does not increases the burden on Max.
Yes, Claire can assign her obligations under the contract to anyone who accepts.
No, contracts for personal services are not assignable.
No, the assignment is not valid since Max did not give any consideration.
This is most likely not a good strategy for this woman. The fact that this woman has been hired as a freelance web designer means thta the woman is beig paid for her professional expertise. No one else can perform the job in the way that she can perform it. Therefore, she cannot assign this duty to another person.
Answer:
Depreciation expense-Year 2 = $8840
Explanation:
It is important to note that the depreciation is based on the units-of-production method and in case of the truck, we take 100000 miles as its useful life or total units of production.
The depreciable value of the truck is Cost - salvage value,
Depreciable Value = 33000 - 7000 = 26000
The depreciation for year 2 based on units-of-production is,
Depreciation expense for year 2 = 26000 * 34000/100000 = $8840
