According to the regulations in the united states, the correct way to write
$ 450.05 in words on check would be :
Four hundred fifty and 05/100
hope this helps
When property is sold in the middle of year, both the buyer and seller can deduct their pro rated portion of the property tax.
The property taxes are based on the assessed value of the property. So when the property tax is pro rated at the time of the transfer, both the buyer and seller can deduct their pro rated portion of the property tax.
Buyer and seller prorations are often applied during real estate closing transactions to divide the cost of expenses like property taxes. Thus, the buyer gets a deduction for the prorated amount of property tax due after closing, and the seller gets the same deduction for the taxes.
Hence, both the buyer and seller receives the deduction for the real property tax.
To learn more about property tax here:
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Answer:
Owner's equity at year end would be $61,100
Explanation:
$58,900(Beginning equity) + $8,200 (Net income increases owner's equity) - $2,500 (This is paid out of retained earnings/owner's equity) - $3,500 ( A repurchase of stocks reduced owner's equity as cash would have been given to the shareholder for their equity) = $61,100
Answer:
A. 3.21 years
Explanation:
In the payback, we analyze in how many years the invested amount is recovered. The computation is shown below:
In year 0 = $7,500
In year 1 = $1,100
In year 2 = $1,640
In year 3 = $3,800
In year 4 = $4,500
If we sum the first 3 year cash inflows than it would be $6,540
Now we deduct the $6,540 from the $7,500 , so the amount would be $960 as if we added the fourth year cash inflow so the total amount exceed to the initial investment. So, we deduct it
And, the next year cash inflow is $4,500
So, the payback period equal to
= 3 years + $960 ÷ $4,500
= 3.21 years
In 3.21 yeas, the invested amount is recovered.
