1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
shutvik [7]
3 years ago
15

A buyer is closing on the purchase of a residence. The taxes for the year are estimated to be $4,780. The closing date is Januar

y 16, and the day of closing belongs to the buyer. Using the 365-day method, what is the proration?
Business
1 answer:
Aneli [31]3 years ago
6 0

Answer:

For seller = $196.44

For buyer = $4583.56

Explanation:

Data provided in the question:

Taxes for the year = $4,780

Date of closing = January 16

since the day of closing belongs to the buyer therefore the seller owns the tax for 15 days only

Per day tax = [ Taxes for the year ] ÷ 365

= $4,780 ÷ 365

= $13.095 per day

Hence,

Proration will be

for seller = $13.095 per day × 15 days

= $196.44

For buyer = $4,780 - $196.44

= $4583.56

You might be interested in
Why are workers really quitting? you can boil it down to 1 simple reason
Stella [2.4K]

Answer:

the money bro

Explanation:

4 0
2 years ago
If Apr of a savings account is 2.7% and interest is compounded quarterly, what is the approximate APY of the account
solniwko [45]

Answer:

0.0273 = 2.7%

Explanation:

APY = (1 + r/m)^m - 1

       = (1 + 0.027/4)^4   -  1

       = 0.0273 = 2.73%

8 0
2 years ago
When managers of firms in a competitive market observe falling profits, they may infer that the market is experiencing a. a viol
Oliga [24]

Answer:

c. the entry of new firms

Explanation:

  • The entry of the new firms in the market creating a  market supply curves to shift to the right side and as the curve shifts the markets price then starts to decline with it  
  • This declines the economic profits in the new and the existing firms as long as the profits exists  in the markets and entry will continue to shift to supply to the right.
  • The diversification of the melt and the fall in the monopoly of the firms start to take place.  
  • They take up resource ownership and technological developments. In short, they increase the competitiveness and bring rivalry into the market.
7 0
3 years ago
Mint Co.'s cash balance in its balance sheet is $1,300,000, of which $300,000 is identified as a compensating balance. Additiona
Natasha2012 [34]

Answer:

Correct option is B Yes and Yes

Yes - Compensating shall be reported, And Restricted shall also be reported.

Explanation:

Compensating balance is the minimum balance to be maintained in the company's bank account as this is used by bank for offsetting loan, and used by company to set up the loan amount.

Restricted balance is a choice made by the company to not use the funds and use it later for company's growth or future projected, but still since it cannot be used it shall also be reported accordingly.

Therefore the company has the need to report such restricted balance also and compensating balance has to be reported as well.

Therefore correct option is B

Yes - Compensating shall be reported, And Restricted shall also be reported.

7 0
3 years ago
The techniques used by systems analysts to identify or extract system problems and solution requirements are known as
OlgaM077 [116]

Answer: requirements discovery

Explanation:

The techniques used by systems analysts to identify or extract system problems and solution requirements are known as requirements discovery.

A requirements discovery is simply defined as the process and tools that are typically used to identify the system requirements for the users of a system that has been proposed.

A system requirement helps to describe the desires and needs for an application or a system. The system requirement describes the features, functions, and constraints.

7 0
2 years ago
Other questions:
  • Manufacturers Southern leased high-tech electronic equipment from Edison Leasing on January 1, 2016. Edison purchased the equipm
    12·1 answer
  • Consider the following vignette. Aboard the cruise ship Royal Majesty, a breakfast diner complains to the waiter that the meal i
    14·2 answers
  • A CPA can accept a gift from a client as long as:
    10·1 answer
  • Suppose a government finances its expansionary fiscal policy by borrowing from the public. Joseph is concerned that this will in
    14·1 answer
  • The imitation based account's primary weakness is that
    6·1 answer
  • If employees are bonded a. it means that they are not allowed to handle cash b. they have worked for the company for at least 10
    14·1 answer
  • Assume that Amazon has a stock-option plan for top management. Each stock option represents the right to purchase a share of Ama
    7·1 answer
  • What significance is hiring the right candidate to a bussines success?
    14·1 answer
  • Hilton Company manufactures two products: Product A100 and Product X500. The company currently uses a plantwide overhead rate ba
    8·1 answer
  • What term best describes the borrower who is personally liable for a debt obligation related to the purchase of a home?.
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!