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xxTIMURxx [149]
3 years ago
6

Keisha is buying John's house. The closing date (day belongs to seller) of the sale transaction is September 1 (day 244 of the y

ear). Existing hazard insurance of $350 has been paid by John through December 31. Use the 365-day method for prorating. What is Keisha's share of the existing hazard insurance already paid in full
Business
1 answer:
SSSSS [86.1K]3 years ago
7 0

Answer: $116.026

Explanation:

Given the following ;

Yearly hazard insurance = $350

Keisha is the buyer and the closing date of transaction is September 1 of the year.

January 1 till September 1 = 244days

Now Keisha will have to credit John from September 2 till December 31st of that year

Therefore,

September 2 till December 31 = 365 - 244 = 121 days

Daily hazard insurance = $350 ÷ 365 = $0.9589

Keisha's share = $0.9589 × 121 = $116.026

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Answer:

Cost of good manufactured= $50000

Explanation:

Total manufacturing cost is the aggregate amount of cost incurred by a business to produce goods in a reporting period.

Generally accepted accounting principles require that the cost of goods sold shall consist of:

the cost of direct materials

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<u>Expenses that are outside of the manufacturing facilities, such as selling, general and administrative expenses, are not product costs. </u>They are reported as expenses on the income statement in the accounting period in which they occur.

In this exercise:

<u>Cost of goods manufactured:</u>

Direct materials= $15000

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Total= $50000

4 0
3 years ago
The one-year interest rate over the next 10 years will be 3%, 4.5%, 6%, 7.5%, 9%, 10.5%, 13%, 14.5%, 16%, and 17.5%. Using the e
Alja [10]

Answer:

Explanation:

interest rates on a three-year bond =(int in year1+int in year2+int in year3)/n =  (3+4.5+6)/3 =4.8%

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interest rates on a nine-year bond = (3%+4.5%+ 6%+ 7.5%+ 9%+ 10.5%+ 13%+ 14.5%+16%)/9 =10.23%

So, int rate on a 3 year bond is 4.8%; on a 6 year bond is 7.35%; on a 9 year bond 10.23%

5 0
3 years ago
Dividends paid to common stockholders ______ be deducted from the payer's taxable income for tax purposes.
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Dividends paid to common stockholders cannot be deducted from the payer's taxable income for tax purposes.

<h3>What is Dividend Payments?</h3>

Dividends are paid only on outstanding shares of common stock. Since the payments are the distribution of a company's profits to its shareholders, dividend payments decrease both the cash and the shareholders' equity balance shown on the issuing corporation's balance sheet.

Since they are paid on each share, the amount of cash distributed to each shareholder is based on the amount of shares they own.

<h3>Are dividends paid to common stockholders?</h3>

Dividends are paid only on outstanding shares of common stock.

A common stock dividend is the dividend paid to common stock owners from the profits of the company. Like other dividends, the payout is in the form of either cash or stock. The law may regulate the size of the common stock dividend particularly when the payout is a cash distribution tantamount to a liquidation.

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3 0
1 year ago
Woodruff Inc. offers you a project that will pay you $17,000/year. If the cost of this project is $100,000, and the discount rat
otez555 [7]

Answer:

The length of time = 12 years

Explanation:

<em>The number of years the case would be determines the length time it takes the present value of  annuity of 17,000 to equate the initial cost </em>

Initial cost = A× (1- (1+r)^(-n)/r =

A- 17,000, r- 13%, n - ?

So we will need to work out the value of " n"

100,000 = 17,000 × 1- 1.13^(-n)/0.133

100,000/17,000 =1- 1.13^(-n)/0.13

5.88235 ×0.13 = 1- 1.13^(-n)

n = 12

The number of years is approximately 12 years

The length of time = 12 years

3 0
3 years ago
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Vlada [557]

Bigger and larger reductions in the production of one thing are necessary to increase the production of another good. The frontier of the production potential will bow outward.

<h3>What is production?</h3>

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The production of automobiles is an illustration of production. Parts are put together to create cars. For instance, metal bodywork are given rubber tyres so that seats can be placed before the car rolls off the assembly line.

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6 0
1 year ago
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