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2 years ago

Tyro has the right to drive across ula's land, which is next to tyro's property, to reach an access road. tyro's right is:____.

1 answer:

4 0

Easement Appurtenant

What is easement appurtenant ?

A permanent easement that is attached to the land and benefits the owner. A covenant that follows the land is known as an easement appurtenant. The easement annex is transferred together with the title to the actual estate whenever a new owner takes ownership.

To get to an access road, Tyro has the right to drive across Ula's property, which is near to Tyro's property. tyro's right is Easement Appurtenant.

Learn more about Easement appurtenant here:

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On June 3, Carla Company sold to Chester Company merchandise having a sale price of $3,800 with terms of 4/10, n/60, f.o.b. ship

Svetllana [295]

Answer:

A. June 3

Dr Accounts Receivable—Chester $3,800

Cr Sales Revenue $3,800

June 12

Dr Cash $3,648

Dr Sales Discounts $152

Cr Accounts Receivable—Chester $3,800

B. June 3

Dr Accounts Receivable—Chester $3,648

Cr Sales Revenue $3,648

June 12

Dr Cash $3,648

Cr Accounts Receivable—Chester $3,648

Explanation:

A. Preparation of the journal entries on the Pronghorn Company books to record Sales and receivables are entered at gross selling price.

June 3

Dr Accounts Receivable—Chester $3,800

Cr Sales Revenue $3,800

June 12

Dr Cash $3,648

($3,800-$152)

Dr Sales Discounts ($3,800 X 4%) $152

Cr Accounts Receivable—Chester $3,800

B. Preparation of the journal entries on the Pronghorn Company books to record Sales and receivables are entered at gross selling price Sales and receivables are entered at net of cash discounts.

June 3

Dr Accounts Receivable—Chester $3,648

Cr Sales Revenue ($3,800 X 96%) $3,648

June 12

Dr Cash $3,648

Cr Accounts Receivable—Chester $3,648

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2 years ago

A professor hypothesizes that there will be a relationship between couples' listening skills and length of marriage. she has a _

Kaylis [27]

The professor has constructed a hypothesis. This answer takes from the first statement mentioning how the professor predicts a relationship between two variables. A hypothesis can be used to make a statement that predicts a relationship or solve a certain phenomenon. It must be based off by facts and solid information.

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3 years ago

On June 25, Ritts Roofing extended an offer of $250,000 for land that had been priced for sale at $300,000. On July 9, Ritts acc

Kisachek [45]

Answer:

$275,000

Explanation:

The computation of the value that should the land be recorded is shown below:

= Value at which rits accepted the counteroffer of the seller

= $275,000

Hence, the alue that should the land be recorded is $275,000

Basically it records the cost value as per the cost concept

The same should be considered

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2 years ago

Beaver Corporation reported taxable income of $500,000 from operations this year. During the year, the company made a distributi

loris [4]

Answer:

Beaver's total taxable income and federal income text paid as result of distribution is $500,000 and $105,000 respectively.

Explanation:

The computation of the taxable income and the federal income is shown below:

Taxable income = Taxable income + loss

= $500,000 + $0

= $500,000

Since the fair value is $20,000 is less than the mortgage on land i.e $25,000 so it would be a loss of $5,000 which would not be considered so we put the value zero.

And, the federal income equal to

= Taxable income × income tax rate

= $500,000 × 21%

= $105,000

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3 years ago

Sunland Corporation has retained earnings of $708,900 on January 1, 2020. Net income during 2020 was $1,663,000, and cash divide

andriy [413]

Answer:

Beginning RE 708,900

prior period adjustment <u> 89,470 </u>

adjusted beginning RE 798,370‬

net income 1,663,000

cash dividends <u> (77,800) </u>

ending RE 2,383,570‬

Explanation:

The amend of the mistake is done to adjust the beginning retained earnings as it didn't occur in the current accounting cycle.

We have to added as it was posted as an expense something it wasnt Thus, our expense were overstated making a lower net income

then, we proceed normally by adding the net income and decreasing the cash dividends paid to arrive to ending RE

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3 years ago