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irina [24]
3 years ago
5

annual property taxes are $1,776. the previous year's taxes are paid. if the closing is one May 1, what is the seller's portion

on the settlement?
Business
1 answer:
never [62]3 years ago
6 0

Answer:

The correct answer is ($596.93 with a year of<u> 360 days</u>) or ($588.75 with a year of <u>365 days</u>)

Explanation:

First step: Divide the annual property taxes into the number of days in a year.

$1,776 ÷ 360 days = 4.9333 (price per day, With a year of<u> 360 </u>days)

$1,776 ÷ 365 days = 4.8657 (price per day, With a year of <u>365</u> days)

Second step: Multiply the price per day by the number of days of the closing, for this case May 1

Jan= 31 days

Feb= 28 days

March= 31 days

April= 30 days

May= 30 days (but the closing is on 1 May, for this month, count just 1 day)

= 31 (Jan) + 28 (Feb) + 31 (March) + 30 (April) + 1 (May) = 121 days until May 1

Third step: Price per day x number of days until closing

$4.9333 x 121 days = $ 596.93

$4.8657 x 121 days = $ 588.75

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3 years ago
In the Month of March, Digby Corporation received orders of 128 units at a price of $15.00 for their product Daze. Digby uses th
Montano1993 [528]

Answer:

$1,290

Explanation:

The revenue to be recognized in march is dependent on if the revenue recognition criteria was met in march. These criteria are

  • the cost of goods delivered or service rendered can be measured reliably
  • good/services were delivered/rendered in the month

This is irrespective of whether cash was collected or not under the accrual method.

Given that Digby delivers 86 units in March at a price of $15.00, revenue to be recognized

= 86 * $15

= $1,290

6 0
3 years ago
Pablo Company has budgeted production for next year as follows:QuarterFirst Second Third FourthProduction in units 48,000 88,000
Margaret [11]

Answer:

271,500 pounds

Explanation:

Given:

Quarter                               FIRST      SECOND     THIRD     FOURTH

Production in unit                  48000     88000        98000      78000

Raw material per unit               3               3                 3                 3

=================================================================

Thus,

Need for material  = Production in unit × Raw material per unit

=================================================================

Quarter                                         FIRST      SECOND     THIRD     FOURTH

Need for material in production  144,000   264,000     294,000     234,000

Desired ending inventory = 25% of next quarter's production needs for material

==================================================================

ADD:

Desired ending inventory             66000       73500      58500  

==================================================================

Total need of material = Need for material in production + Desired ending inventory

==================================================================

Quarter                               FIRST      SECOND     THIRD      FOURTH

Total need of material =       210,000    337,500     352,500  

Beginning inventory             38000  66000       73500  

==================================================================

Total purchase = Total need of material - Beginning inventory

==================================================================

Quarter                               FIRST      SECOND     THIRD      FOURTH

Total purchase =                   172,000     271,500      279,000

Hence,

The answer is  271,500 pounds

5 0
3 years ago
What role does organizing play as a function of management?
mote1985 [20]
 If management implements proper organization and <span>productivity will be higher,.
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4 0
3 years ago
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Pollution and raw material shortages constitute immediate threats to some firms buy are often opportunities for other firms. The
castortr0y [4]

Answer:

Yes

Explanation:

  1. Competitors will have to find out other options on recycling materials what opens opportunities for the recycling and and other green industry. like recycling Aluminium is cheaper than producing it from Bauxite, for example.
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7 0
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