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Damm [24]
3 years ago
10

A buyer has deposited 10% of the sales price of a condominium with the broker as earnest money, and the bank has agreed to lend

$51,000, which is 80% of the sales price. How much additional funding must the buyer provide to complete this transaction?
Business
1 answer:
lina2011 [118]3 years ago
4 0

Answer: $6375

Explanation:

Since the bank has agreed to lend $51,000, which is 80% of the sales price, then the sales price will be:

= $51,000/80%

= $51,000/0.8

= $63750

The additional funding must the buyer provide to complete this transaction will be:

= $63750 - $51000 - (10% × $63750)

= $63750 - $51000 - $6375

= $6375

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Answer:

a. Dr Cash 17,500

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b. Dr Supplies 2,300

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f. Dr Dividend 1,800

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Explanation:

Preparation of Journal entry

a. Dr Cash 17,500

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b. Dr Supplies 2,300

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c. Dr Cash 13,300

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d. Dr Rent expense 3,000

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i. Dr Supplies expense 1,050

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8 0
2 years ago
Which of these gives companies an anticompetitive impulse? consumer behavior the profit motive market research efficiency
Evgen [1.6K]

Answer:

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Explanation:

Although the <em>profit motive</em> is essential and common among all businesses that exist, it is by nature anti-competitive, meaning it is not a trait used to create substantial competitive advantage. It is a notion that will certainly not attract customers. However, it is always present (and most customers know that), but the profit motive will never be communicated through mrketing activities etc.

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3 years ago
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Where is market equilibrium located
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B. at the intersection of supply and demand

Explanation:

Equilibrium is a market condition where there no excess or shortage in demand and supply. It is when the quantity demanded matches the quantity supplied. At equilibrium, buyers and sellers are happy with the prevailing prices.

In a graph showing the demand and supply curve, the equilibrium point is the intersection of the supply and demand curve.  

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The average inventory degree refers to the number of units, now not the monetary fee of these units. Determining average stock degree is simpler than identifying the average inventory cost. There's one less calculation: you do the identical thing, however assign no value to products. You're simply averaging their quantity.

Learn more about average inventory amount here:

<h3>brainly.com/question/4522984</h3><h3 /><h3>#SPJ4</h3>

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