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ollegr [7]
3 years ago
5

On December 30, 2019, Whitney sold a piece of property for $85,000. Her basis in the property was $40,000, and she incurred $1,2

00 in selling expenses. The buyer paid $5,000 down with the balance payable in $10,000 installments over the next eight years. In addition, the buyer assumed a $15,000 mortgage on the property. Round any division to four decimal places, and use in subsequent computations. Round your final answer to the nearest dollar.
Under the installment sales method, the total contract price is $____, the total gain on the sale is $____ and the amount of gain reported in 2018 is $____.
Business
1 answer:
vlabodo [156]3 years ago
6 0

Answer:

Under the installment sales method, the total contract price is $85,000

gain on the sale is $58,800 ( 85,000 + 15,000 - 40,000 - 1,200)

and the amount of gain reported in 2018 is $3,459.

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Observing children's needs and interests should affect the way you plan activities.
Leya [2.2K]
Answer is A, due to food allergies, but preferences CAN come into play. Allergies come first, though, along with medical issues.
8 0
3 years ago
Suppose the own price elasticity of demand for good X is −0.5, and the price of good X increases by 10 percent. What would you e
nexus9112 [7]

Answer:

a 10% increase in price will reduce the demand and total expenditures on good X by 5%.

Explanation:

<em>Price elasticity of demand(PED) is the degree of responsiveness of demand to a change in price.</em>

<em>Where a percentage change in price produces a more than a proportional change in quantity, we say the product is</em><em> price elastic.</em><em> On the other hand, where a change in price produces a less than a proportional change in quantity demand, then demand is </em><em>price inelastic</em>

PED is computed as follows:

PED = % change in quantity /% change in Price

So we can apply this formula to this question

0.5 = m/10

m = 0.5 × 10

m = 5.

m= 5%

From the computation above , it is deduced that a 10% increase in price will reduce the demand and total expenditures on good X by 5%.

5 0
3 years ago
Yard Tools manufactures lawnmowers, weed-trimmers, and chainsaws. Its sales mix and unit contribution margin are as follows.
PSYCHO15rus [73]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Sales Mix Unit Contribution Margin

Lawnmowers 20 % $32

Weed-trimmers 50 % $24

Chainsaws 30 % $45

Break-even point (units)= Total fixed costs / (weighted average selling price - weighted average variable expense)

Break-even point (units)= 4,944,500/ ( 0.20*32 + 0.5*24 + 0.30*45)

Break-even point (units)= 155,000 units

Each product:

Lawnmowers= 0.20*155,000= 31,000

Weed-trimmers= 0.50*155,000= 77,500

Chainsaws= 0.30*155,000= 46,500

5 0
3 years ago
Alicia and Nick are buying a $725,000 home. They have been approved for a 5.25% APR, 30-year mortgage. They made a 20% down paym
UkoKoshka [18]

Answer:

R=An*i : [1-(1+i)^-n]

R=580,000*0.0525/12 : [1-(1+0.0525/12)^-360]

R=3,202.78

Monthly payments =$ 3,202.78

Explanation:

Given

Home Cost=725,000

downpayment= 20% of 725,000

An=725,000 - 0.2 *725,000

An= 580,000

t=30 yrs

n=12 (monthly)

j=5.25% (interest rate)

--> i=j/m

i=0.0525/12

-->n=m*t

n=12*30

n=360

FInd monthly pmts ( R) =?

R=An*i : [1-(1+i)^-n]

R=580,000*0.0525/12 : [1-(1+0.0525/12)^-360]

R=3,202.78

6 0
3 years ago
The Upjohn Company purchased new packaging equipment with an estimated useful life of five years. The cost of the equipment was
egoroff_w [7]

Answer: a). Straight line method = $10,000. b). Double declining balance method = $20,000.

Explanation: Depreciation is the weat and tear of an asset over the useful life. There are several methods of depreciation. They include; straight line method, double-declining method, units of production method and so on.

Straight line method = (cost - salvage value)/ useful life

= (55000 - 5000)/5 = 50000/5

= $10,000

Double-declining balance method = straight line method × 2

= $10,000 × 2

= $20,000

3 0
3 years ago
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