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valentinak56 [21]
2 years ago
9

Your seller wants to net $100,000 after the 5% commission is paid. Assuming no closing costs, at what price does the home need t

o sell for the seller to net this amount?
Business
1 answer:
AleksandrR [38]2 years ago
3 0

Answer:

The home needs to sell for $105,263.16 for the seller to receive net of $100,000.00

Explanation:

The amount that the home needs to sell can derived from the net to seller's formula given as: Net to seller = Sale Price * (100% - commission rate)

Net to seller=$100000

Sale price is unknown

commission rate is 5%

$100000=sale price*(100%-5%)

$100000=sale price *95%

sale price =$100000/95%

sale price =$105263.16

For the seller to receive $100000 after 5% commission the property must e sold for $105,263.16

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2. On January 2, 2017, heavy equipment costing $800,000 was purchased. The equipment had a life of 5 years and no salvage value.
Naddika [18.5K]

Answer:

The solution to the given problem is done below.

Explanation:

(a)            Depreciation

            for Financial              Depreciation for Temporary

Year         Reporting Purposes           Tax Purposes            Difference

2017           $160,000                          $264,000          (104,000)

2018           $160,000                          $360,000          (200,000)

2019           $160,000                           $120,000            40,000

2020           $160,000                           $56,000            104,000

2021                  $160,000                                      0                        $160,000

                         $800,000                            $800,000                   0

(b)                        2018       2019          2020         2021           Total  

Future taxable

amounts:

Depreciation     $(200,000)      $40,000      104,000    $160,000    $104,000

Deferred tax liability: $104,000 × 40% = $41,600 at the end of 2017.

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2. Prototype such procedures, practices and processes and assess its impact on the long term corporate objective.

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