Answer
The answer and procedures of the exercise are attached in the following archives.
Step-by-step explanation:
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
<span>October sales forecast projects = 7000
Sold price = $11.50
Desired ending inventory in units is 15 % higher tan the beginning inventory of 1000 units
Total October sales = ?
When we calculate the total October sale, it means we have to multiply the total units sold in October with the price per unit
Total October sales = 7000 x 11.50
= $80,500
So, total October sales are anticipated to be $80,500.</span>
Answer:
option (b) $55,000
Explanation:
Data provided in the question:
Cash distributed = $15,000
Fair market value of the land = $50,000
Inside basis at the time of the distribution = $52,000
Gupta's outside basis = $70,000
Now,
Gupta's Outside basis = Cash + Basis in land
or
$70,000 = $15,000 + Basis in land
or
Basis in land = $70,000 - $15,000
or
Basis in land = $55,000
Hence,
The answer is option (b) $55,000
<u>Explanation:</u>
The legal duties which a person needs to fulfill as a real estate agent or broker is known as the fiduciary duties. Fiduciary duties are acted upon in the best interest of the client.
OLDCAR is the fiduciary duties acronym for that a real estate agent needs to maintain. They are as follows
Obedience: They need to obey instructions and be legal and follow ethical practices.
Loyalty: In competing offer situations agents should be loyal to their customers.
Disclosure: material facts have to be disclosed to the client.
Confidentiality:Personal information of client should not be shared without his consent.
Accountability : accurate reporting has to be given.
Reasonable care : special care should be given for the client.
Competition has an impact on prices of items being sold such that when competition is high, prices can get lower. This is because you want to keep up with other players and present your items as the affordable kind. when competitiion is low, prices are higher because your demand is high
