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3 years ago

Some people include a letter of last instruction in their estate planning. What is likely TRUE about this letter?

Business

1 answer:

iVinArrow [24]3 years ago

3 0

Answer:

Explanation:

A Letter of Last Instruction (LOLI) serves to give family important information such as where the person wants to be buried, instructions for any pets, or location of important legal documents.

Side note: this is not a will, and should not be used as a substitution for one. A will is a legal document, a LOLI is not.

Hope this helps! Let me know if you have any further questions about my response.

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Cal Lury owes $25,000 now. A lender will carry the debt for four more years at 10 percent interest. That is, in this particular

vitfil [10]

Answer:

$6,185.31

Explanation:

Value of debt at end of 4 years = $25,000 * (1 + 10%)^4

Value of debt at end of 4 years = $25,000 * (1.10^4)

Value of debt at end of 4 years = $25,000 * 1.4641

Value of debt at end of 4 years = $36,602.50

Let x be the annual payments

x * [1 - (1 + 13%)^-12] / 13% = $36,602.50

x * [1 - (1.13)^-12] / 13% = $36,602.50

x * [1 - 0.2307059] / 13% = $36,602.50

x * 0.7692941/0.13 = $36,602.50

x * 5.91764692 = $36,602.50

x = $36,602.50/5.91764692

x = 6185.313266375142

x = $6,185.31

So therefore, his annual payment will be $6,185.31.

4 0

3 years ago

Broussard is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2019, current

AlekseyPX

Answer: $‭412,600‬

Explanation:

AFN = Increase in assets - Increase in Liabilities - Addition to Retained Earnings

Increase in Assets

= 5,000,000 * 15%

= $750,000

Increase in Liabilities

Only use Accruals and Accounts Payable

= (450,000 + 450,000) * 15%

= $135,000

Additional to Retained Earnings

= After tax Profit

= 9,200,000 * 4%

= $368,000

Addition to retained earnings = 368,000 * ( 1 - payout ratio)

= 368,000 * ( 1 - 45%)

= $202,400‬

Additional Funds Needed (AFN) = 750,000 - 135,000 - 202,400

= $‭412,600

8 0

4 years ago

Havermill Co. establishes a $330 petty cash fund on September 1. On September 30, the fund is replenished. The accumulated recei

slavikrds [6]

Answer: a) Debit to Office Supplies for $81.

Explanation:

Office Supplies of $81 were used in the month of September. When replenishing the fund, this asset will be accounted for by being debited and cash will be credited to reflect the reason the cash account is being reduced.

The Journal entry for the replenishment will be;

DR Office supplies Account ......................................$81

DR Merchandise inventory Account ........................$153

DR Misc. expense Account........................................ $30

CR Cash account ......................................................................$264

5 0

4 years ago

What is a buyer persona? an individual who pretends to be a customer to help a company test its offerings a detailed description

barxatty [35]

A. An individual who pretends to be a customer to help a company test its offerings a detailed description of a typical, but fictional customer

3 0

3 years ago

Upon graduation from high school, a young man wanted to enroll in a nine-month program at a community college to study to be an

Stolb23 [73]

Answer:

B. The contract was oral. 

Explanation:

The young graduate will most likely not succeed in attempting to enforce the promise made by his grandpa since the promise has not been in writing, as mandated by the Frauds Statute.

In particular, agreements do not have to be binding in writing; though, by the Frauds Statute, other agreements would not be binding unless they have been demonstrated by a document signed by the party to be indicted.

Another such arrangement is to pay another's debt, like the grandpa's promise to pay the uncle's debt here if he fails to pay.

Hence, the Option B is right.

7 0

3 years ago