1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
UkoKoshka [18]
3 years ago
14

Which provision of the purchase and sale agreement describes the circumstances under which the closing agent must withhold or no

t withhold taxes to pay to the Internal Revenue Service?
Business
1 answer:
salantis [7]3 years ago
3 0

Answer:

seller Citizenship and FIRTPA

Explanation:

The provision that ultimately decides this would be the seller Citizenship and FIRTPA. This is because a percentage of every sale is taxed and must go to the Internal Revenue Service, but a closing agent is only responsible for withholding taxes from investors that do not have Citizenship in the US. This is because they are not in the system and do not have any responsibilities towards the US government.

You might be interested in
Journalize the entries to record the following transactions for Mountain Realty Inc.:
kherson [118]

Answer and Explanation:

The journal entries are shown below"

On Aug 26

Cash Dr $768,000

         To Common stock $640,000

         To Additional paid in capital $128,000

(Being issuance of the common stock is recorded)

On Oct 1

Cash Dr $410,000

        To preferred stock $410,000

(Being the issuance of the preferred stock is recorded)

On Nov 30

Cash Dr $187,000

         To Common stock $170,000

         To Additional paid in capital $17,000

(Being issuance of the common stock is recorded)

3 0
3 years ago
Doug and Kayla formed a partnership with capital contributions of $220,000 and $320,000, respectively. Their partnership agreeme
Mandarinka [93]

Answer:

The correct answer is $79,000 and $37,000.

Explanation:

According to the scenario, the given data are as follows:

Net income = $116,000

Doug's Salary = $52,000

Receive an interest = 10%

So, the amount to be shared equally = [$116,000 - $52,000 - ( 10% × $220,000) - ( 10% × $320,000)] ÷ 2

= $5,000

So, Doug share = $52,000 + ( 10% × $220,000) + $5,000

= $79,000

Kayla share =  (10% × $320,000) + $5,000 = $37,000

5 0
3 years ago
Zoe runs a flower shop. She recently made some changes so that one employee answers phones and completes the order and payment p
ankoles [38]

Answer: E. Task identity

Explanation:

Task identity is the degree/extent to which an employee execute an entire, recognizable piece of work

4 0
3 years ago
Read 2 more answers
A company sent a trained observer to watch and interact with consumers in their natural environments in order to gain deeper ins
Alenkinab [10]

Answer:

A. ethnographic research

Explanation:

Ethnographic research: In psychological research, the term "ethnographic research" is described as one of the different qualitative methods in which an investigator or researcher tend to interact or/and observe with different participants associated with a specific study or research in their real or actual life or environmental surroundings. In anthropology, ethnographic research is considered as one of the famous research yet it is being used in a variety of aspects related to social sciences.

7 0
3 years ago
Record transactions using a perpetual system, prepare a partial income statement, and adjust for the lower of cost and net reali
NeTakaya

Answer:Hi

Explanation:Hi

8 0
3 years ago
Other questions:
  • Which phrase describes an unsolicited proposal?
    13·1 answer
  • Which of these scenarios is a case of misuse of workplace resources?
    8·2 answers
  • Suppose you need $1 million dollars to start your dream business. Describe two ways you would generate the funds needed to start
    13·1 answer
  • Frederick is about to start a small manufacturing business soon. He has asked some of his friends, who are entrepreneurs, for ad
    13·2 answers
  • Is gross profit or net profit more important to consider when you're deciding how successful and profitable a company is?
    15·1 answer
  • Which type of degree is earned after a master’s degree?
    15·2 answers
  • Work requirements were a key feature of the PRWORA policy for welfare receipt. However, because state-supported workfare jobs ar
    13·1 answer
  • 1. Critical analysis Q2 Suppose that college students in your town persuaded the town council to enact a law setting the maximum
    9·1 answer
  • If $25,000 of fixed costs will be eliminated by discontinuing the Sporty line, how will operating income be affected
    10·1 answer
  • You have 10 businesses that you are researching. 4 businesses only have an online shop option, 2 businesses are strictly store f
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!