Answer:
Liabilities increase and assets decrease.
Hope this helps!
Answer:
Real estate short sale
Explanation:
Real estate is defined as a piece of land and any attached property that is constructed on it.
In real estate business a real estate short sale occurs when the person that owns a property decides to sell the property at a price that is less than the amount on the mortgage.
This usually occurs as a result of financial distress of the owner.
In the given scenario the property has a mortgage value of $150,000 and down payment of $30,000 has been made.
The mortgage amount is now $150,000 - $30,000 = $120,000
However they now sell the property for $115,000 which is less than the remaining mortgage value of $120,000.
This is and example of real estate short sale.
Answer: $1531
Explanation:
The corporation's tax basis in the property received in the exchange will be the addition of Tristan's Tax basis and the gain that's recognized on exchange by Tristan.
The gain realized will be:
= $1,570 - $1,255
= $315
Boot received = $276
Therefore, lower of $315 or $276 is $276.
The corporation's tax basis in the property received will then be:
= $1255 + $276
= $1531
Answer:
the market quantity supplied is less than 250 scoops when the price is $2 per scoop
Explanation:
When price is $2, the total quantity supplied = 20 + 50 + 35 + 100 + 40 = 245
At the price $2, the total quantity supplied is less than 245
Answer:
b. Book Error
e. Interest earned on the Checking account
f. Collections of Accounts receivable by the bank.
Explanation:
Items which must be adjusted to the book balance as this question is concerned are <u>Book Error</u>, <u>Interest earned on the Checking account</u> & <u>Collections of Accounts receivable by the bank.</u>
These above items require adjustment in book balance to compute the adjusted book balance.