Solution:
The home sells for = $120000
The commission that is paid by the seller is 3 percent
Therefore, commission = 3% of $120000 = $3600
The sales-person is on a 65 percent commission schedule with her broker which means that the saleperson gets the 65 percent amount of the commission.
Thus, the amount which is received by the salesperson from the given transaction is = 65% of $3600 = $2340
Therefore, the salesperson receives $2340 amount from the said transaction.
Answer:
sorry, i just want the points.
Explanation:
The reported ending inventory was $43,112 thousand. If FIFO were used exclusively, the ending inventory would have been $6,964 thousand higher than reported, or $50,076 thousand.
Inventory refers to all the items, goods, goods, and materials that a business holds for sale in the market to make a profit. Example: If a newsagent uses a vehicle to deliver newspapers to customers, only the newspapers are considered inventory. A car is treated as an asset.
The manufacturer has three types of inventory. There are raw materials (awaiting processing), work in process (processed), and finished goods (preparing for shipment). The LIFO method assumes that the most recently purchased inventory units are sold.
Learn more about inventory at
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Answer:
The correct answer is letter "B": decreases to assets and expenses and increases to liabilities, revenues, and stockholders' equity.
Explanation:
When it comes to accounting book-keeping, a credit is an entry that increases <em>liabilities </em>(amounts owed to third parties) and <em>equities </em>(assets minus liabilities) in their corresponding accounts or decreases <em>assets </em>(resources owned by the company) and <em>expenses </em>(costs of the business operations) accounts.
