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3 years ago

The title company charges a fee to effect the closing on behalf of the buyer and seller. who bears the cost of this?

1 answer:

4 0

To have a fundamental and legal basis, there should always be a purchase contract between the buyer and the seller. This contract contains the agreement and requirements for the purchase to proceed. So in this case, it is always agreed in the contract who pays the cost.

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Janice started receiving an annuity payment of $1,500 per month when she turned 68 years old (expected return multiple for ordin

givi [52]

Answer: 71% or $12,780 annually.

Explanation:

To find the amount of the Annuity that represents a return on Capital each year you divide the cost of the Annuity by the total amount of the Annuity to be received if the single life annuity is used to the fullest.

First then, we would need to calculate the full value of the Annuity.

Janice expects to get $1,500 per month for 17.6 years.

That means the total value would be,

= 1,500 * 12 months * 17.6 years

= $316,800 is the Total Annuity Receivable.

Calculating the return on Capital we will have,

= Cost of Annuity / Total Annuity Receivable

= 225,000 / 316,800

= 0.71022727272

= 71%

Monthly calculated that would be,

= 0.71 (1,500 * 12)

= $12,780

The return on Capital is 71% or $12,780 annually.

8 0

3 years ago

You recently began a job as an accounting intern at Raymond Adventures.

Vlada [557]

Answer:

Beginning cash balance for March= $20,000

Cash collections for February =$90,600

Total cash available for March =$102,300

Cash payments (purchase inventory) for February =$50,800

Cash payments (operating expenses) for March =$37,900

Total cash payments for March =$79,400

Ending cash balance before

financing for February =$8,400

Cash excess (deficiency) for February and March =$- 11,600 $2,900

New borrowings for February and March

=$11,600 $0

Debt repayments for February and March

=$0 -$2,900

Interest payments for February and March

=$0 $0

Ending cash balance for February and March (1) + (2) =$20,000 $20,000

Explanation

Preparation of Raymond Adventures

Combined Cash Budget for February and March

Raymond Adventures Combined Cash Budget for February and March

Beginning cash balance 16,500 20,000

Plus: Cash collections 90,600 80,200

Plus: Cash from sale of plant assets 0 2,100

Total cash available 107,100 102,300

Less: Cash payments

(purchase inventory) 50,800 41,500

Less: Cash payments

(operating expenses) 47,900 37,900

Total cash payments 98,700 79,400

(1) Ending cash balance before

financing 8,400 22,900

Minimum cash balance desired 20,000 20,000

Cash excess (deficiency) -11,600 2,900

Financing:

Plus: New borrowings 11,600 0

Less: Debt repayments 0 -2,900

Less: Interest payments 0 0

(2) Total effects of financing 11,600 -2,900

Ending cash balance (1) + (2) 20,000 20,000

Beginning cash balance for March

Minimum cash balance desired March 20,000

Calculation for Cash collections for February

Total cash available 107,100-Beginning cash balance 16,500=90,600

Calculation for Total cash available for March

Beginning cash balance 20,000

Plus: Cash collections 80,200

Plus: Cash from sale of plant assets 2,100

=102,300

Calculation for Cash payments (purchase inventory) for February

Total cash payments 98,700 -Cash payments

(operating expenses) 47,900

=50,800

Calculation for Cash payments (operating expenses) for March

Total cash payments for March 79,400-Cash payments(purchase inventory) for March 41,500

=37,900

Calculation for Total cash payments for March

Total cash available for March 102,300-Ending cash balance before

financing for March 22,900

=79,400

Calculation for the Ending cash balance before

financing for February

Total cash available 107,100-Total cash payments 98,700

=8,400

Calculation for Cash excess (deficiency) for February and March

Ending cash balance before

financing 8,400 22,900

Less Minimum cash balance desired 20,000 20,000

=- 11,600 2,900

New borrowings for February and March

11,600 0

Debt repayments for February and March

0 -2,900

Interest payments for February and March

0 0

Calculation for Ending cash balance for February and March (1) + (2)

(1) Ending cash balance before

financing 8,400 22,900

Add (2) Total effects of financing 11,600 -2,900

=20,000 20,000

6 0

2 years ago

Assume US GAAP to answer this question. In 2017, $2 million in wages were earned and no cash wages were paid. In 2018, $8 millio

kari74 [83]

Answer: a. Liabilities increased by $1.0 million in 2018

Explanation:

In 2018, $9 million was used to settle the wage debt of 2017 and the remainder was used to settle the wages in 2018.

The money remaining in cash after the wage settlement was:

= 9,000,000 - 2,000,000 - 8,000,000

= -$1,000,000

This means that $1,000,000 of wages was not settled in 2018 which means that this would have to go to the Wages Payable account to signify that the company owes wages.

This account is a liability account so liabilities in 2018 would increase by $1,000,000.

6 0

3 years ago

____, or providing information supporting their policy positions to legislators, is a visible role played by interest groups. in

Eva8 [605]

Lobbying or providing information supporting their policy positions to legislators, is a visible role played by interest groups.
Lobbying are efforts that are directed primarily at the national level; committees of Congress that consider legislation, and executive departments. Those involved depend on their personal relationship with members of Congress and the executive branch, which are based on keeping in regular contract.

8 0

3 years ago

Regardless of the inventory costing system used, cost of goods available for sale must be allocated at the end of the period bet

MaRussiya [10]

Answer:

The correct answer is ending inventory and cost of goods sold

Explanation:

Cost of goods available for sale is defined as the maximum amount of the inventory or the goods which the company could possibly sell during the fiscal or accounting period.

The cost of goods which are available for sale need to be allocated among the cost of goods sold and the ending inventory at the end of the year, where the cost of goods equals to the cost of goods available for sale subtract the ending inventory.

6 0

2 years ago