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Alecsey [184]
3 years ago
10

A woman held fee simple title to a vacant lot adjacent to a business. She was persuaded to make the lot available to the busines

s. She had her attorney prepare a deed that conveyed ownership of the lot to the business "so long as it is used for commercial purposes." After the completion of the gift, the business will own a:___________.a. life estate.b. tenancy for years.c. periodic tenancy.d. determinable fee estate.
Business
1 answer:
den301095 [7]3 years ago
3 0

Answer:

D. Determinable fee estate

Explanation:

To begin, a determinable fee estate is structured such that it terminates upon the occasion of certain events, or completion of purpose, and will revert to the grantor without any entry or other provisions. This revert to the grantor is essential and thus come automatically, especially upon the creation of a determinable fee estate.

Given the scenario under study, a woman held a fee simple to a vacant lot adjacent to a business. Subsequently, she made the lot available to the business, and convey its ownership on same. The clause 'so long it is used for commercial purposes' further underscores that a determinable fee and/or future interest is expected to be earned on such.

This arrangement and especially looking at the completion of the gift, the business will thus own a Determinable fee estate.

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ABC had the following net income (loss) the first three years of operation: $7,100, ($1,600), and $3,600. If the Retained Earnin
Alex73 [517]

Answer:

The total amount of dividends paid over these three years: $8000

Explanation:

  • Net income (loss) in three years

$7,100, ($1,600), and $3,600  

=> the total net income is the first three years of operation is:

$7,100 -  ($1,600) +  $3,600  

= $9,100

This money is not kept in the Retained Earnings because it is used for dividend payment. But Earnings balance at the end of year three is $1,100, so the total amount of dividends paid over these three years:

= Total net incomes - Retained Earnings

= $9,100 - $1,100,  

= $8000

Hope it will find you well.

3 0
3 years ago
Read 2 more answers
What is the turnover rate if i had 102 employees at begining of month and 98 at end of month
Naily [24]

Answer:

4 %

Explanation:

Employee turnover  can be described as the number or percentage of workers who leave an organization and have to be replaced.

The formula for calculating employee turnover is as follows.

Employee turnover =total number of employee that left/average number of employee per period x 100

In this case:  Employee that left: 102-98=4

Employee rate = 4/102 x 100

                             =0.039 x100

                             =0.04 X100

                               = 4 %

8 0
4 years ago
A lender estimates that the closing costs on a $293,600 home loan will be $11,010. The actual closing costs were 3.25% of the lo
yan [13]

Answer:

We choose D

Explanation:

Given that:

  • Home loan: $293,600
  • Estimated cost: $11,010
  • The actual closing costs were 3.25%/ home loan.

From the given information, we need to find out the actual closing costs

= Home loan ÷ Rate of closing stock

= $293,600 ÷ 0.0325

= $9,542

The difference of the actual and the estimate is:

= Estimated cost -  actual closing costs

= $11,010 - $9,542  

= $1,468

The percentage of difference :

$1,468 /$293,60*100%

= 0.5%

We choose D

8 0
3 years ago
Read 2 more answers
Company X is expected to earn $2.25 per share this quarter. Last quarter they earned $2.50 per share, and a year ago their earni
uysha [10]

Answer:

Price of the stock will go up

Explanation:

In order to predict future movements of stock prices, analysts use reported quarterly earnings, usually in the forms of earnings per share. However, analyst's estimation is only opinion, that may differ from what would really happen. If company's earnings exceed their own estimations, as in this case, we could expect stock value to rise. However, in the case where actual earnings are a bit lower than projected ones, the price of the stock will drop.

8 0
3 years ago
The two most important financial statements are the Income Statement and the: *
emmasim [6.3K]

Answer:

B. balance sheet

Explanation:

8 0
3 years ago
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