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barxatty [35]
3 years ago
6

A 3-year insurance policy costing $1,164 is taken out november 1, 1995. the property was sold on may 15, 1996, and the day of cl

osing belongs to the buyer. if the buyer assumes the policy, what the should the buyer pay the seller at closing, using the 30-day month method?
Business
1 answer:
Debora [2.8K]3 years ago
7 0

To solve: If we assume there are 30 days in the month then the policy was held by the original owner from November 1st – May 15th which is 195 days. Assuming there are 30 days in the month there are 360 days in the year and that is equal to 1,080 for the insurance policy. If we divide the price of the policy, $1,164 by the amount of days the policy will be held for 1,080 then the policy is worth $1.08 a day. Next, take the amount of days the original owner held the policy and multiply it by the amount per day the policy costs (195)($1.08) = $210.60 Then, we need to subtract $210.60 from the full cost of the policy ($1,164 - $210.60) = $953.40 The buyer should pay the seller $953.40 at closing.

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If gross pay increases by $500, total employee benefits increase by $200 and total job expenses decrease by $300, then total emp
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Answer:

option (d) increases by $1,000

Explanation:

Data provided in the question:

Increase in gross pay = $500

Increase in total employee benefits = $200

Decrease in total job expenses = $300

Now,

The change total employment compensation

= Increase in gross pay + Increase in total employee benefits + Decrease in total job expenses

= $500 + $200 + $300

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Answer:

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Answer:

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income taxes payable = $579,400 x 30% = $173,820

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3 0
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