ACCU 360 Assignment Help of Brandman University ACCU 360 Assignment Help of Brandman University | Page 15

Janelle plans to start off by hiring 2 people to work the events with her. Each person
will be paid $100 per event and is expected to work 4 events per month. After Year
3, Janelle plans to hire 2 additional people. (At this point, each person will be paid
$100 per event and is expected to work 3 events per month).
Office rent is estimated to be a flat rate of $1,200 per month.
Utilities for the rented office space are estimated to be $300 per month.
The office space Janelle plans to rent is unfurnished. She plans to purchase $15,000
worth of furniture and fixtures at the beginning of Year 1. The furniture and fixtures
will have a useful life of 15 years. Janelle will also need to buy some computers and
other office equipment that she will purchase for $10,000 also at the beginning of
Year 1. The office equipment will have a useful life of 5 years. Both the furniture
and fixtures as well as the equipment will be depreciated on a straight-line basis
(Assume zero salvage value for calculations). HINT: Fixed Assets – Accumulated
Depreciation = ‘Net’ Fixed Assets
Janelle is asking for a 3-year bank loan for $60,000. The estimated interest on the
loan is 3% (assume simple interest). She will pay the loan back in $20,000
installments starting in Year 2. Interest is due at the end of each year and paid in
January of the following year.
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