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hjlf
3 years ago
14

On February 1, a seller paid $1,140 in annual property tax for the current calendar year. He sold the house with the closing set

for April 1. What will be the seller's credit for the property taxes already paid if the buyer pays for the day of closing?
Business
1 answer:
tigry1 [53]3 years ago
6 0

Answer:

$288

Explanation:

Since the total property taxes for the year are $1,140, to find the property tax per month we have to divide by 12 ⇒ $1,140 / 12 = $95 per month

The seller is responsible for paying the property taxes during 3 months and 1 day, to find out the amount for that 1 day we divide the monthly tax by 30 = $3.17 per day.

the total seller's credit = ($95 x 3) + $3 = $285 + $3 = $288

*The seller's credit includes all the expenses that must be paid by the seller, while the seller's debit includes all the money that he receives.

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According to the text, for an entrepreneurial start-up to be successful, three ingredients are critical. What are they? Group of
Ronch [10]

Answer:

A viable opportunity, available resources and a qualified and motivated founding team.

Explanation:

An entrepreneur can be described as an individual who creates a new business and also undergoes the different financial risks that are associated with a business operation. An entrepreneur should be creative, smart and a problem solver inorder to be able to succeed in the business world.

A successful enterpreneur must possess the ability to turn different ideas and knowledge into a viable business opportunity. The individual must also have access to an amount of money(capital) that is required to start up the business. There must also include a motivated team of workers willing to work with the individual inorder to achieve a specific goal.

6 0
3 years ago
Linda saw a print ad in a magazine for clairol's natural essence semi-permanent hair color that she knew existed but did not kno
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This is the knowledge/expectations stage of the hierarchy of effects, because Linda is now aware of the product and is starting to learn about it.

The hierarchy of effects is:

1. Awareness - know the product exists

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8 0
3 years ago
A company makes travel umbrellas. Its fixed costs are $1000 a week and its variable costs for one batch of umbrellas per week is
Lady_Fox [76]

Answer:

Break-even point in units= 93 units

Explanation:

Giving the following information:

Its fixed costs are $1000 a week and its variable costs for one batch of umbrellas per week are $500 for 2000 units.

After doing market research, the company sets the price per umbrella at $11.

Unitary variable cost= 500/2,000= $0.25

To calculate the break-even point in units, we  need to use the following formula:

Break-even point in units= fixed costs/ contribution margin per unit

Break-even point in units= 1,000/ (11 - 0.25)

Break-even point in units= 93 units

3 0
3 years ago
Brown Corporation earns $600,000 and pays cash dividends of $200,000 during 2012. Dexter Corporation owns 3,000 of the 10,000 ou
fomenos

Answer: $920,000

Explanation:

Given the following :

Beginning balance = $800,000

Brown's earning = $600,000

Casg Dividend = $200,000

Dexter's portion of brown's outstanding shares = 3000/ 10000 = 0.3

Therefore, Dexter's investment account is as follows :

Beginning balance + (earning × 0.3) - (Dividend × 0.3)

$800,000 + ($600,000 × 0.3) - ($200,000 × 0.3)

$800,000 + $180,000 - $60,000

$980000 - $60000 = 920000

4 0
3 years ago
Consumer protection laws are meant to:
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<span>B.Prevent unfair or deceptive business practices.
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4 0
3 years ago
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