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Katyanochek1 [597]
3 years ago
15

A house is sold on June 15. The annual taxes in the amount of $850 for the year have not been paid.What does the seller owe the

buyer at closing?a) $315.21 b) $381.92 c) $384.25 d) $475.18
Business
1 answer:
spayn [35]3 years ago
8 0

Answer:

Option (c) $384.25

Explanation:

Data provided in the question:

Date on which house is sold = June 15

Annual taxes in the amount = $850

Now,

Tax per day = [ Annual taxes ] ÷ Total number of days in a year ]

= $850 ÷ 365

= $2.3288 per day

Therefore,

The amount seller owe the buyer

= Tax per day ×  Number of days seller owned house

= $2.3288 × 165

= $384.25

Hence,

Option (c) $384.25

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Donner Company is selling a piece of land adjacent to its business premises. An appraisal reported the market value of the land
Lunna [17]

Answer: $212,000

Explanation:

Under the cost principle, the amount that the land should be recorded in the accounting records of Focus Company would be $212,000.

It should be noted that under the cost principle, any property that can be considered to be an asset would have to measured at its cost.

Since the companies settled on a purchase price of $212,000, that'll be the amount that will be recorded.

4 0
3 years ago
Jack and Jill are married and have no dependent children. They are both over 65 and Jill is blind. Their gross income is $45,000
yan [13]

Answer:

They are exempt from paying tax

Explanation:

Taxable income is the amount of an individual's gross income that the government deems subject to taxes.

However, because they are aged (above 65), and their taxable income -which should be $32000 after deductions - is less than the percentage tax relief,they are exempted from paying tax for that particular year.

8 0
3 years ago
Parts and materials for skis made by Company C are supplied by two suppliers. Supplier​ A's materials make up 27​% of what is​ u
neonofarm [45]

Answer:

Supplier B more likely supplied the defective materials.

Explanation:

This exercise is solved in four steps:

1. Statistical events are defined:

A = (provider A)

B = (provider B)

D = defective materials

From the problem statement, 27% of the materials used by Company C are provided by supplier A. Therefore:

P (A) = 0.27.

The remaining 73% is provided by supplier B. Therefore:

P (B) = 0.73.

2. Conditional probabilities are established. In other words, what is the probability that the materials are defective? Remember that the "defect" is the condition that most interests the manager.

According to the example, 22% of materials from supplier A are defective. We can formalize this as follows:

P (D / A) = 0.22

On the other hand, 9% of supplier B materials are defective:

P (D / B) = 0.09

3. It will be determined what is the probability that each supplier has provided defective products by applying Bayes´ theorem.

3.1 The probability of this event will be found for supplier A:

The Bayes´ Theorem for this case is:

P (A / D) = \frac{P(A)  P(D/A)}{P(A) P(D/A) + P(B) P(D/B)}

We replace with the data obtained in the previous points (1 and 2):

P (A/D) = \frac{(0.27)(0.22)}{(0.27)(0.22)+(0.73)(0.09)}

P (A/D)= \frac{0.0594}{0.0594+0.0657}

P (A/D) = \frac{0.0594}{0.1251}

P (A / D) = 0.474

That means that approximately 47.4% of defective materials come from supplier A.

3.2 The probability of this event for provider B will be found.

The Bayes´ Theorem for this case is:

P (B/D) = \frac{P(B) P(D/B)}{P(A) P(D/A) + P(B) P(D/B)}

We replace with the data obtained in the previous points (1 and 2):

P (B/D) = \frac{(0.73)(0.09)}{(0.27)(0.22)+(0.73)(0.09)}

P (B/D)= \frac{0.0657}{0.0594+0.0657}

P (B/D) = \frac{0.0657}{0.1251}

P (B / D) = 0.525

That means that approximately 52.5% of the defective materials come from supplier B.

4. Compare the conditional probabilities.

If we compare P (A / D) and P (B / D), we can see that the largest is P (B / D) (47.4 < 52.5). Therefore, supplier B is more likely to have supplied defective materials.

7 0
3 years ago
What dividend per share would be reported in the financial press for a stock that currently has 4.5% dividend yield and the most
oksano4ka [1.4K]

Answer: $3.38

Explanation:

Dividend Yield of a stock refers to the dividend paid by the company expressed in terms of a percentage of the current value of the company's stock.

The Dividend therefore is;

= 75 * 4.5%

= $3.375

= $3.38

5 0
3 years ago
The Parvizians own several oriental rug stores in and around the Washington, DC, metropolitan area. It is expected that as each
Alex777 [14]

Answer:

The correct answer is (b)

Explanation:

It is generally said that if you’re in a family business you are in a partnership. The partvizians is a family which owns several rug stores. When their children will take over the business they will be considered partners. They will own the business equally and they will share the profits and losses.  It is also known as a family-owned business where two or more family members run a business and act as business partners.

6 0
3 years ago
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