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sergeinik [125]
3 years ago
6

You are a landlord for an office building. You just received a claim letter from a tenant asking for a refund of $2,000 for extr

a rent that was paid in June. You check your records and find out that the June rent was deducted twice from the tenant’s bank account. You think this must have been a bank error, but the double amount was transferred to your bank account. Write an adjustment letter to the tenant, and enclose a refund check.
Business
1 answer:
Tanya [424]3 years ago
4 0

Answer:

See the explanation below.

Explanation:

The Accounting Officer,

ABC Co.,

12, Ogbere Road,

Ibadan, Nigeria.                                                                            

                                                                                                   28 July 2019

Dear Mr. James,

Re: Refund of $2,000 Excess Receipt and Rent Adjustment

Kindly take this as response to your request for a refund of $2,00 for extra rent that was paid in June.

After a careful examination of my bank statement, I discovered that my account was credited twice with the sum of $2,000 for the rent due to a bank error.

The adjustment is hereby made as follow:

<u>Details                                                $  </u>

Amount received                           4,000

Refund of excess payment        <u>  (2,000)  </u>

Actual rent paid                           <u> 2,000   </u>

Kindly find enclosed in this letter an amount of $2,000 as the refund of the excess payment.

I look forward to receiving your response and acknowledgment of the receipt of the refund.

Yours sincerely,

Amcool.

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Answer:

Traditional characteristics of property ownership, such as transfer, risk of loss, insurable interest, and right to encumber are "broken up" and subject to varying tests under the UCC to help create boundaries.

Explanation:

the Uniform Commercial Code (UCC), a standardized collection of guidelines that govern the law of commercial transactions.

Real estate ownership carries with it a complex set of rights, and the bundle of rights concept has traditionally been the way in which those rights are described and summarized.

Traditional characteristics of property ownership, such as transfer, risk of loss, insurable interest, and right to encumber are "broken up" and subject to varying tests under the UCC to help create boundaries and limits to control in other to avoid excesses.

6 0
3 years ago
Production Budget
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Answer and Explanation:

The preparation of production budget is shown below:-

                      Weightless Inc

                    Production Budget

         For the month ending October 31

                             Units Bath Scale            Units Gym Scale

Expected Units to

be sold                       150,000                         90,000

Desired Inventory,

October 31                  12,500                           8,000

Total                          162,500                           98,000

Less: Estimated Inventory,

October 1                   -18,000                           -10,000

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produced                  144,500                           88,000

5 0
3 years ago
Which of the following groups on the Insert tab contain the command to add WordArt to a publication?
lisabon 2012 [21]

Answer: Text group

Explanation: The Wordart is used for text formatting in Microsoft Word.It enables the addition of different style formatting to a text such as adding a fill, color, shadow, outlines and so on to our text in other to make it look more attractive. The Wordart style is located in the text group of the insert tab menu. The Wordart pull down will be seen where one can choose between the plain or transform style galleries and perform the necessary text formatting.

4 0
2 years ago
Suppose a State of California bond will pay $1,000 eight years from now. If the going interest rate on these 8-year bonds is 5.5
aksik [14]

Answer:

The bond is worth $651.59 today

Explanation:

FV = $1000

N = 8

I/Y = 5.5%

Present Value = ?

PV = FV*(1+r)^(-n)

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PV =  $1000 * (1.055)^-8

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3 years ago
Johnson Waterworks Corporation provides plumbing services. Transactions during the first year of operations are provided below.â
lisov135 [29]

Answer:

$ 26,100

Explanation:

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Amount Paid for equipment to be used for plumbing repairs = $1,500

Amount borrowed = $10,000

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Amount paid for plumbing supplies = $300

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Now,

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or

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or

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Now

the assets from equipment = $ 1,500

Thus,

the total assets at end of the first year = The total cash + the assets from equipment  + Plumbing supplies left at the end of the year

or

The total assets at end of the first year = $ 24,200 + $ 1,500 + $ 400

or

The total assets at end of the first year = $ 26,100

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