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Tcecarenko [31]
3 years ago
14

A buyer values a house at $525,000 and a seller values the same house at $485,000. If sales tax is 8% and is levied on the selle

r, then what would be the lowest price that the seller would be willing to sell at?​
Business
1 answer:
Katena32 [7]3 years ago
4 0

Answer:

$523,800

Explanation:

Given parameters:

Cost price by buyer = $525000

Selling price by seller = $485000

Sales tax = 8%

Unknown:

The lowest selling price by the seller = ?

Solution:

To solve this business problem, we must understand that the price the seller would be will to part with will be his selling price and the percentage of sales tax incurred in the procurement.

This will be the minimum and least profitable estimated amount the seller is willing to sell at.

   Lowest selling price = selling price by seller + amount of sales tax incurred

Sales tax amount = selling price x sales tax percentage

                             = $485000 x \frac{8}{100}

                              = $38800

Lowest selling price = $485000 + $38800 = $523,800

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Answer:

Option "C" is the correct answer to the following question.

Explanation:

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The following events occurred for Johnson Company: a. Received investment of $39,000 cash by organizers and distributed 1,190 sh
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Answer:

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the cash is being used thus, credited and the note is a liability hence credit as well

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