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siniylev [52]
3 years ago
9

The balance of the accumulated depreciation account on the adjusted trial balance of the end-of-period spreadsheet would be repo

rted on which of the following financial statements? a.the income statement b.the balance sheet c.the statement of owner's equity d.All of these financial statements are correct.
Business
1 answer:
Maslowich3 years ago
3 0

Explanation:

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The following data were selected from the records of Sykes Company for the year ended December 31, Current Year.
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A seller's costs are a $14,700 commission, $3,150 in excise tax, $650 for a buyer's policy of title insurance, $250 in escrow fe
Ksivusya [100]

Answer:

Seller's proceeds = $66,300

Explanation:

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Seller's costs = $14,700

Commission = $3,150

Excise tax = $650

Escrow fees = $250

Loan payoff = $126,000

Purchase price receive = $210,000

Refund on property taxes paid in advance = $1,050

Computation of seller's proceeds:

Seller's proceeds = (Purchase price receive + Refund on property taxes paid in advance) -  (Seller's costs + Commission + Excise tax + Escrow fees + Loan payoff)

Seller's proceeds = ($210,000 + $1,050) - ($14,700 + $3,150 + $650 + $250 + $126,000)

Seller's proceeds = ($211,050) - ($144,750)

Seller's proceeds = $66,300

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