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3 years ago

What are three ways to make money through investing in real estate?

2 answers:

4 0

Answer: By a sudden positive change in the economy, by renting out residences or land to customers, or by being smart about when and how the properties are put up for sale or rent

Explanation:

Alexandra [31]3 years ago

3 0

Answer:

There are three primary ways investors could potentially make money from real estate: An increase in property value. Rental income collected by leasing out the property to tenants.

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Marin Corp. factors $441,000 of accounts receivable with Headland Finance Corporation on a without recourse basis on July 1, 202

Kaylis [27]

Answer:

Debit Cash for $406,602; Debit Finance charge for $7,938; Debit Loss on sale of receivables for 26,460; and Credit Accounts receivable for $441,000.

Explanation:

Before preparing the journal entry, the following calculations are made firs:

Finance charge = Percentage of finance charge * Accounts receivable = 1.80% * $441,000 = $7,938

Loss on sale of receivables = Percentage retained * Accounts receivable = 6% * $441,000 = $26,460

Cash = Accounts receivable - Finance charge - Loss on sale of receivables = $441,000 - $7,938 - $26,460 = $406,602

The journal entry will now look as follows:

Date Details Debit ($) Credit ($)

01 Jul '20 Cash 406,602

Finance charge 7,938

Loss on sale of receivables 26,460

Accounts receivable 441,000

(To record factoring of accounts receivable.)

6 0

3 years ago

In previous years, Cox Transport reacquired 2 million treasury shares at $22 per share and, later, 1 million treasury shares at

Hoochie [10]

Answer:

24 million shares ; $16 million

Explanation:

The computation of the weightage number of treasury shares are shown below:

Number of shares Price Total

2 $22 $44 million

1 $28 $28 million

Total 3 $72 million

So, the weighted average number of shares would be

= $72 ÷ 3 = 24 million shares

Now the journal entry would be

Cash A/c Dr $64 million (2 million treasury shares × $32)

To Paid in capital - share repurchase A/c $16 million

To Treasury stock $48 million (24 million treasury shares × $2)

(Being the treasury shares are sold)

4 0

3 years ago

Which are 3 common misconceptions users of an income statement may have?

Mama L [17]

The three most frequent misconceptions are that net income equals cash, net income excludes estimates, and net income reports all changes in value that occurred during the accounting period.

One of the three crucial financial statements used to describe a company's financial performance throughout a certain accounting period is the income statement. The balance sheet and the cash flow statement are the other two important statements. The income statement, which is often referred to as the profit and loss (P&L) statement or the statement of revenue and expense, primarily focuses on the company's revenue and expenses over a specific time period. Understanding how to study an income statement is the greatest approach to evaluate a business and choose whether or not to invest.

To learn more about income statement here

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3 0

2 years ago

A sample of 51 observations will be taken from an infinite population. The population proportion equals 0.85. The probability th

3241004551 [841]

Answer:

c. 0.0819

Explanation:

The mean = 0.85

standard error of the proportion is: sp = sqrt(pq/n)

= sqrt ((.85)(0.15) / 51) = 0.05

P(0.9115 < X < 0.946) = P( (0.9115 - 0.85) / 0.05 < z < (0.946 - 0.85) / 0.05 )

= P(1.23 < z < 1.92)

= P(z < 1.92) - P(z < 1.23) = 0.0819

8 0

3 years ago

On June 10, Purcey Company purchased $6,000 of merchandise from Guyer Company, terms 3/10, n/30. Purcey pays the freight costs o

algol [13]

Answer:

Part A. Entries in Purcey Company:

On June 10:

Debit Merchandise $6,000

Credit Accounts Payable $6,000

On June 11:

Debit Freight in $430

Credit Cash $430

On June 12:

Debit Accounts Payable $700

Credit Merchandise $700

On June 19:

Debit Accounts Payable $5,300

Credit Purchase discount $159

Credit Cash $5,141

Part B. Entries in Guyer Company:

On June 10:

Debit Account Receivable $6,000

Credit Sales $6,000

Debit Cost of goods sold $2,430

Credit Merchandise $2,430

On June 12:

Debit Sales $700

Credit Account Receivable $700

Debit Merchandise $260

Credit Cost of goods sold $260

On June 19:

Debit Cash $5,141

Debit Sales Discount $159

Credit Account Receivable $5,300

Explanation:

Credit terms of 3/10, n/30 means that 3% discount for the payment within 10 days and the full amount to be paid within 30 days.

Part A. Entries in Purcey Company:

On June 10:

Debit Merchandise $6,000

Credit Accounts Payable $6,000

On June 11:

Debit Freight in $430

Credit Cash $430

On June 12:

Debit Accounts Payable $700

Credit Merchandise $700

On June 19:

Purcey pays and takes the appropriate discount:

3% x ($6,000 - $700) = $159

Cash Guyer Company receives: $5,300-$159 = $5,141

The journal entry that Purcey make:

Debit Accounts Payable $5,300

Credit Purchase discount $159

Credit Cash $5,141

Part B. Entries in Guyer Company:

On June 10:

Debit Account Receivable $6,000

Credit Sales $6,000

Debit Cost of goods sold $2,430

Credit Merchandise $2,430

On June 12:

Debit Sales $700

Credit Account Receivable $700

Debit Merchandise $260

Credit Cost of goods sold $260

On June 19:

Debit Cash $5,141

Debit Sales Discount $159

Credit Account Receivable $5,300

4 0

3 years ago