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xxTIMURxx [149]
2 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]2 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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1 year ago
The direct write-off method: multiple choice follows the expense recognition (matching) principle. Is not permitted under GAAP.
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Answer: is permitted if results are similar to the allowance method

Explanation:

The direct write-off method is refered to as an accounting method whereby the uncollectible accounts receivable are being written off as bad debt. Here, the bad debts expense account will be debited while the accounts receivable will be credited.

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2 years ago
Some observers had argued that Uber’s greatest problem was not any of its scandals, but its CEO Travis Kalanick. Now that Kalani
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Answer:

Answer for the question  

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Is given in the attachment.

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3 years ago
Mona sets up a business consulting firm in which the employees are motivated because they find their work interesting and creati
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Answer:

Letter C is correct. <em>A firm that relies on high output controls to tap into intrinsic motivation.</em>

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3 years ago
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Answer:

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