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
dezoksy [38]
3 years ago
11

A buyer will receive a utilities bill for an estimated $400 at the end of the month. At closing, the seller has used an estimate

d $100 of the bill. What should appear on the closing statement?
Business
1 answer:
MrMuchimi3 years ago
3 0

Answer:

Dr Seller Account $100

Cr Buyer Account      $100

Explanation:

The property sold on 15th of the month by Mr. A to Mr. B and the utility bill received later of this month would be split between Mr. A and Mr. B. The basis for the split of the utility bills would be the share that Mr. A utilized the facilities and in this scenario, it is $100. Hence the buyer Mr. B has receivable of $100 and the seller Mr. A has a liability payable of $100 amount.

Hence the buyer will debit the bill by $100 receivable and the Seller will debit the bill owed to buyer by $100.

You might be interested in
Savings accounts are limited in their transactions. how many transactions and what law
Vikentia [17]
Haha sike you thought
6 0
3 years ago
You have just turned 30 years​ old, have just received your​ MBA, and have accepted your first job. Now you must decide how much
igor_vitrenko [27]

Answer:

Find attached

Explanation:

The present value of $97,000 per year after retirement for 35 years is computed thus:

=-pv(rate,nper,pmt,fv)

rate is the plan rate of return of 6.5%

nper is 35 years(years after retirement)

pmt is the amount required per year

fv is not applicable is taken as zero

=-pv(6.5%,35,97000,0)=$1,327,634.80  

The amount needed in the account at retirement is the future value of the plan.

Regular yearly payment into the plan is =pmt

=pmt(rate,nper,-pv,fv)

=-pmt(6.5%,35,0,1327634.80)=$ 10,703.74

The percentage of income that must be contributed is found in the attached

Download xlsx
8 0
3 years ago
Which sentence makes a logical comparison? bob's stocks are worth more than leslie's. bob's stocks are worth more than leslie. l
Naddika [18.5K]
The first one!
Bob's stocks are worth more than leslie's.
3 0
3 years ago
Read 2 more answers
A manufacturing company that produces a single product has provided the following data concerning its most recent month of opera
quester [9]

Answer:

$61,200

Explanation:

The computation of the total period cost for the month under absorption costing is shown below:

= Fixed selling and administrative expense +  Variable selling and administrative expense rate × number of units sold

= $34,000 + 6,800 units × $4

= $34,000 + $27,200

= $61,200

As we know that the period cost includes the major part of the selling expenses and we applied the same for the above computation

5 0
3 years ago
When gathering information which of the following task might you need to perform
JulsSmile [24]

Answer:

take notes, research that information

6 0
2 years ago
Other questions:
  • What is return on​ investment? A. The amount of income an investment center earns relative to the size of its assets B. Excess i
    6·1 answer
  • atch China's GDP Growth Rate to the year. This data is easily found by creating a raw data longitudinal or advanced bar chart an
    8·1 answer
  • When an asset is sold, a gain occurs when the?
    13·1 answer
  • Heap Corporation is considering an investment in a project that will have a two year life. The project will provide a 10% intern
    6·1 answer
  • Elena is the CEO of a small manufacturing firm. She is concerned with meeting the investment objectives of the firm's shareholde
    15·1 answer
  • Tim and Janet were divorced. Their only marital property was a personal residence with a value of $120,000 and cost of $50,000.
    13·1 answer
  • Explanation of own capital
    15·1 answer
  • Donna Company makes three types of products. The company has two types of customers. The cost to serve all customers is $12,000
    12·1 answer
  • Cap-and-trade is a system that ________. allows industries to set their own levels for pollution emission so trading can continu
    12·1 answer
  • If real gdp in a year was $3,668 billion and the price index was 112, then nominal gdp in that year was approximately
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!