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mojhsa [17]
3 years ago
11

Jim Jones, the landlord, rents a property to Tom Smith, a physically disabled person. Mr. Smith, with Mr. Jones' permission, mod

ifies the house to suit his needs. When the lease expires, Mr. Smith will NOT be required to:___________.
Business
1 answer:
Vesnalui [34]3 years ago
3 0

Answer:

restore the wide doorways, that were installed for his wheelchair, to the original size.

Explanation:

When a tenant leaves a property, he must restore it to the same state as when he entered it. But some exceptions may apply:

  • All the improvements done to the property belong to the landlord and if he decides to keep them, the tenant will not be required to remove them.
  • Some improvements, like increasing the width of a door, are not detrimental to future tenants, therefore the tenant is not required to restore them to their original condition.  
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On July 1, 2004, Gee, Inc. leased a delivery truck from Marr Corp. under a 3-year operating lease. Total rent for the term of th
disa [49]

Answer:

$9,000

Explanation:

Given:

Date on which the delivery truck has been leased = July 1, 2004

Total rent  for the lease = $36,000

Total operating lease time = 3 years

Thus,

Per year lease amount to be paid = $36,000 / 3 = $12,000

Payable amount as:

12 months at $500 = $6,000

12 months at $750 = $9,000

12 months at $1,750 = $21,000

Now,

on June 30, 2006  year of lease has been completed

therefore, the total revenue to be received by the Marr corp. on June 30, 2006 will be:

$12,000 × 2 = $24,000 should be received by the June 30, 2006

but,

The actual amount received during 2 years duration

=   12 months at $500 + 12 months at $750

= $6,000 + $9,000

= $15,000

Therefore,

The amount to be reported in the rent receivable on June 30, 2006

= total revenue to be received -  actual amount received

= $24,000 - $15,000

= $9,000

4 0
3 years ago
What happens to the equilibrium price when supply go down
MAVERICK [17]
A
The price goes up because when something’s supply goes down, the price goes up assuming the demand hasn’t changed
4 0
3 years ago
Please explain what is the difference between a change in demand versus a change in quantity demanded? Why is it so important to
zmey [24]

A change in demand means a shift in a consumer's desire to a particular good or service irrespective of price variations while a change in the quantity demanded explains a change in the amount of goods or services a consumer is willing purchase largely influenced by the demand price. It has become important to differentiate between this terms as they sound alike representing different meanings in economics. Price elasticity of demand influences the choices individual and firms make as it goes to show if the demand for a particular amount of goods will drop sharply or if the demand would remain same even as price increases. A perfect example is currently the issue of protective gears used to forestall the spread of the ravaging Covid-19. The demand for Face masks have increased as both individuals and health care givers need them with the latter requiring them the most. The increased demand has also seen to the increase in price and this does not affect the amount demanded as the price continues to increase following its rise in demand. This explains the inelasticity of demand.

6 0
3 years ago
Credit reporting agencies are required to exclude negative information that is older than five years old. A) True B) False​
igor_vitrenko [27]
True
Just took the test got it correct
4 0
3 years ago
The following production data were taken from the records of the Finishing Department for June:Inventory in process, 6-1 (30% co
ad-work [718]

Answer:

Option (a) is correct.

Explanation:

Given that,

Completed units during June = 65,000 units

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Beginning inventory units = 4,000 units

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= Completed units during June + Ending inventory units - Beginning inventory units

= 65,000 units + 7,000 units - 4,000 units

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Therefore, the number of material equivalent units of production is 68,000 units.

7 0
3 years ago
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