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12345 [234]
2 years ago
13

Peyton sells an office building and the associated land on May 1 of the current year. Under the terms of the sales contract, Pey

ton is to receive $1,600,000 in cash. The purchaser is to assume Peyton's mortgage of $950,000 on the property. To enable the purchaser to obtain adequate financing, Peyton is to pay the $9,000 in points charged by the lender. The broker's commission on the sale is $75,000. What is Peyton's amount realized? The amount realized by Peyton is $
Business
1 answer:
Westkost [7]2 years ago
4 0

Answer:

$2,466,000

Explanation:

Given that,

Cash Received = $1,600,000

Mortgage assume by purchaser = $950,000

Broker's commission = $75,000

points paid by seller = $9,000

Peyton's amount realized:

= Cash Received + Mortgage assume by purchaser - broker's commission - points paid by seller

= $1,600,000 + $950,000 - $75,000 - $9,000

= $2,466,000

Therefore, the amount realized by Peyton is $2,466,000.

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Answer:

b. 300,000 shares being sold is an issuer transaction and the 200,000 shares being sold is a non-issuer transaction.

Explanation:

A non-issuer transaction is a transaction that does not directly benefit an issuer or it was not directly executed to benefit an issuer.

According to the Uniform State Law, an entity involved in the sales of certificates of interest, leases, mining titles among others is officially exempted from being labelled as an issuer. Hence, the entity (officers of the firm) in the question are non-issuer brokers.

Specifically, when the sales of stock are carried out by someone or an individual who is not a registered stockbroker, that individual officially becomes what is called 'a non-issuer broker-dealer'. The implication is that such a transaction is to be exempted from the registration requirements of the Security Exchange Commission.

In this question, since the issuer newly issued 300,000 shares while the remaining 200,000 in the proposed combination was offered by Officers of the firm - non-issuer broker-dealers. The Law states that it must be separated to show that 300,000 shares are sold in an issuer transaction (Primary) directly involving an official issuer while 200,000 shares are sold in a non-issuer transaction (Secondary).

3 0
3 years ago
Andre's Dog House had current assets of $67,200 and current liabilities of $71,100 last year. This year, the current assets are
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Net working capital is obtained by subtracting total current liabilities from total current assets.  Current assets and liabilities are expected to be used or paid within one year.

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This year  current assets  $82,600 : current liabilities  $85,100

change Net operating capital = {$82,600- 67,200} - {85,100 - 71,100}

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