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1 year ago

35. A listing contract that spells out terms and conditions for the seller and broker is what type of agreement?

1 answer:

8 0

A listing contract that spells out terms and conditions for the seller and broker is a Written or Expressed agency agreement.

Express agency is an agreement that is signed in writing and is made between the principal and the agent. The contracts give the agent authority granted by the principal through an agency agreement.

An Express agency is a real agency established by a verbal or written agreement between the agent and the principal. The Principal hereby appoints the Agent hereunder to act as the Principal's agent. An express agency, for instance, is a documented listing agreement between a broker and a real estate seller. An agency agreement outlines the conditions of the agency, including what the agent is allowed to do and how much is paid for the agent's services. The agreement also grants the agent the power that the principal specifies, such as the only able to act in her place.

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Fill in the blank question. the difference between a revenue or cost item in the planning budget and the same item in the flexib

Kaylis [27]

The difference between a revenue or cost item in the planning budget and the same item in the flexible budget at the actual level of activity is a(n) activity variance.

A flexible budget is a budget or financial plan of estimated cost and revenue for different output levels. The variation happens due to the change in the volume or level of activity.

It sets the standard to measure the variances of the budget estimates and the actual performance of the company for control purposes. Further, it can be prepared either for the whole company or a specific department or unit.

In brief, a flexible budget is a budget that distinguishes the behavior of fixed and variable cost that changes. And changes that happen with the level of activity attained, or change in the revenue or other variable factors.

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6 0

1 year ago

Wildhorse Games Inc. adjusts its accounts annually. The following information is available for the year ended December 31, 2022.

alex41 [277]

Question Completion:

Prepare the necessary journal entries.

Answer:

Wildhorse Games Inc.

1. June 1: Debit Prepaid Insurance $2,220

Credit Cash $2,220

To record the payment for 1-year insurance policy.

2. August 31: Debit Prepaid Rent $7,020

Credit Cash $7,020

To record the payment for 5 months’ rent in advance.

3. September 4: Debit Cash $3,960

Credit Unearned Game Revenue $3,960

To record cash received in advance to sponsor a game each month for a total of 9 months.

4. November 30: Debit Prepaid Cleaning $2,16

Credit Cash $2,160

To record the payment for cleaning services for two months.

5. December 5: Debit Cash $1,620

Credit Unearned Games Revenue $1,620

Adjustments on December 31:

1. Debit Insurance Expense $1,295

Credit Prepaid Insurance $1,295

To record insurance expense for the period ($2,220 * 7/12).

2. Debit Rent Expense $5,616

Credit Prepaid Rent $5,616

To record rent expense for the period ($7,020 * 4/5).

3. Debit Unearned Games Revenue $1,760

Credit Earned Games Revenue $1,760

To record earned revenue ($3,960 * 4/9).

4. Debit Cleaning Expense $1,080

Credit Prepaid Cleaning $1,080

To record cleaning expense for the period.

5. Debit Unearned Games Revenue $1,105

Credit Earned Games Revenue $1,105

To record earned revenue.

Explanation:

a) Data and Analysis:

1. June 1: Prepaid Insurance $2,220 Cash $2,220 1-year insurance policy

2. August 31: Prepaid Rent $7,020 Cash $7,020 for 5 months’ rent in advance.

3. September 4: Cash $3,960 Unearned Game Revenue $3,960 to sponsor a game each month for a total of 9 months

4. November 30: Prepaid Cleaning $2,160 Cash $2,160

$1,080 per month. Paid for the first 2 months on November 30.

5. December 5: Cash $1,620 Unearned Games Revenue $1,620

Adjustments on December 31:

1. Insurance Expense $1,295 Prepaid Insurance $1,295 ($2,220 * 7/12)

2. Rent Expense $5,616 Prepaid Rent $5,616 ($7,020 * 4/5)

3. Unearned Games Revenue $1,760 Earned Games Revenue $1,760 ($3,960 * 4/9)

4. Cleaning Expense $1,080 Prepaid Cleaning $1,080

5. Unearned Games Revenue $1,105 Earned Games Revenue $1,105

7 0

3 years ago

Brickhouse is expected to pay a dividend of $3.65 and $2.66 over the next two years, respectively. After that, the company is ex

vekshin1

Answer:

The stock price today is $ 29.56

Explanation:

Dividend for year 1, d₁ = $ 3.65

Dividend for year 2, d₂ = $ 2.66

Required rate = 12.3% = 0.123

Growth rate = 3.3% = 0.033

Value after year 2= (d₂ × Growth rate) ÷ (Required rate - Growth rate)

= (2.66 × 1.033) ÷ (0.123 - 0.033)

=30.5308889

Hence current price = Future dividend and value × Present value of discounting factor(rate%,time period)

= (3.65÷1.123) + (2.66÷ $1.123^2$ ) + (30.5308889 ÷ $1.123^2$ )

=$29.56

8 0

3 years ago

What is a commodity

rjkz [21]

Answer:

Something useful or valuable.

Explanation:

5 0

3 years ago

Read 2 more answers

Before purchasing a car, John sought advice from his friends and researched auto reviews on the Internet. He also visited car de

noname [10]

Answer: b. external information search

Explanation: As majority of us are not experts on everything, in the external information search stage if the consumer decision-making process, one researches for products and services that can satisfy our needs and wants. This is the beginning of risk management where we access pros and cons while taking into account past experiences we have had.

External information search occurs when the buyer has no previous knowledge about a product, which then leads them to seek information from personal or public sources or marketer dominated sources especially when the buyer's previous experience is limited inefficient. During the information search, the options available to the buyer are either identified or clarified.

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3 years ago