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3 years ago

Designated Broker Ron wants to open a separate escrow account for each transaction he is involved in. Is this legal?

Business

1 answer:

Natasha2012 [34]3 years ago

8 0

Answer:

Yes it is legal.

Explanation:

Escrow accounts are account in which funds are accumulated for specific disbursements. According to my research on the different requirements and limits on escrow accounts, I can say that based on the information provided within the question what Ron is trying to do is completely legal. This is because there is no legal limit on the number of escrow accounts a broker can have.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

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Swifty Corporation plans to introduce a new product and is using the target cost approach. Projected sales revenue is $850500 ($

pochemuha

Based on the information given the desired profit per unit is $0.14 per unit.

First step is to find the unit using this formula

Units=Target sales revenue / Target selling price per unit

Units=$850500 / $4.05

Units =210,000

Second step is to calculate the desired profit per unit using this formula

Desired profit per unit=Target selling price per unit - (Target costs / Units)

Desired profit per unit=$4.05-($821250 / 210,000)

Desired profit per unit=$4.05- $3.91

Desired profit per unit=$0.14

Inconclusion the desired profit per unit is $0.14 per unit.

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2 years ago

Kleen Company acquired patent rights on January 10 of Year 1 for $400,000. The patent has a useful life equal to its legal life

inessss [21]

Answer:

a. Particulars Amount

Patent cost $400,000

Less: Amortization for 3 years $150,000 ($400,000*3/8)

Book value at the end of year 3 $250,000

Addition during Year 4 $20,000

Total book value $270,000

Patent amortization expense for the Year 4 = Total book value / Remaining life

Patent amortization expense for the Year 4 = $270,000 / 5

Patent amortization expense for the Year 4 = $54,000

b. Adjusting Entry

Date Account titles Debit Credit

Amortization expense $54,000

Patents $54,000

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3 years ago

Explain what the implications are to the Canadian economy if the brain drain is not stopped? Within the implications, consider t

Alinara [238K]

Answer:

Low tax collection, low working population

Explanation:

Brain drain is a condition where a country loses its population through migration. Generally, this happens with the low developing countries, because people try to search for jobs in developed countries. Canada will lose tax revenue collection and low working population as a result of the brain drain. Government is the most important stakeholder which will be affected by brain drain apart from that; hospitals and industrial units will be affected by the brain drain.

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3 years ago

DeFeet International started as a cyclist sock company. The founder, Shane Cooper, said that the existing socks for cyclists wer

SpyIntel [72]

Answer:

Multi-Segment Marketing

Explanation:

As DeFeet initially positioned themselves as cyclist sock company but after some time, they identified the mass appeal of their product. They started offering hiking and snow gear which included products like arm skins, calfskin, boxer briefs, gloves, shirts other than just socks. Not only that but they also made a department for customized products. This strategy of offering same category product to different segments is known is multi-segment marketing

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3 years ago

Indicate the effect of each transaction during the month of October 2016 and the balances for the accounting equation after all

Nikolay [14]

Answer:

Test answer

Explanation:

Please delete that answer

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3 years ago