1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Ivan
3 years ago
11

Rusty sells his home for $330,000. He must pay a 6% brokerage fee which will be split evenly between the selling broker and list

ing broker. He will also incur $5,000 in other closing costs and pay off a $225,000 mortgage balance. How much can Rusty expect to receive at closing?
Business
1 answer:
Solnce55 [7]3 years ago
8 0

Answer:

=$ 80, 200.00

Explanation:

selling price : $ 330,000.00

Commission 6 %:

Commissions paid = 6/100 x $ 330,000.00

     =$19,800.00

Closing costs =: $ 5000.00

Mortgage  paid : $ 225,000

Total payouts:  $19,800 + $50,00+ $225,000

   =$ 249, 800.00

Rusty Expects: $ 330,000.00- $ 249,800.00

   =$ 80, 200.00

You might be interested in
Latoya filed her tax return on february 10th this year. when will the statute of limitations expire for this tax return if latoy
melomori [17]
The statute of limitations generally ends three years from the laterof (i) the date the tax return was actually filed (3 years from February 10th of this year) or (ii) the tax return’s original due date (3 years from April 15th of this year).Accordingly,<span>Latoya’s statute of limitations for the tax return will end 3 years from April 15th.</span>
6 0
3 years ago
Absorption costing income would be ____ variable costing income. a. $150,000 less than b. $150,000 greater than c. $240,000 less
Dafna11 [192]

Answer:

E. None of the above

7 0
4 years ago
Delaney Company is considering replacing equipment that originally cost $600,000 and that has $420,000 accumulated depreciation
Annette [7]

Answer:

$180,000

Explanation:

A sunk cost refers to the cost that is incurred by the businesses but this cost cannot be recovered by the businesses.

Here, given that

Cost of equipment = $600,000

Accumulated depreciation = $420,000

Cost of new machine = $790,000

In this situation, the sunk cost is determined by subtracting the cost that are related to previous year from the cost of the equipment.

Sunk cost =  Cost of equipment - Accumulated depreciation

                 = $600,000 - $420,000

                 = $180,000

3 0
3 years ago
LinkedIn is an example of a(n).<br> app?
UkoKoshka [18]

Answer: Linkedln is an example of an app, yes.

Explanation:

6 0
3 years ago
ACME Drilling is evaluating an offshore oil-drilling platform for possible impairment. The company estimates the following: book
alekssr [168]

Answer:

ACME Drilling should record impairment loss of $6.9 million

Explanation:

According to GAAP, when the fair value of an asset is below the net carrying amount of that asset ( Asset's historical cost - Asset's accumulated depreciation or the net book value of the asset), the Company should record it as asset impairment loss.

In ACME's case, the net book value is $18.6 million while the estimated fair value is only $11.7 million meaning that the platform is actually worth less than it is recorded on ACME's book. Thus, an impairment loss of $6.9 million should be recorded ( $18.6 million - $11.7 million) to realize the fair value of the oil-drilling platform.

The sum of projected sum of future cash flows in this case is not suitable to be used to determine the oil-drilling platform because it has not been discounted to the present value amount, and also, it is not appropriate under GAAP.

6 0
4 years ago
Other questions:
  • When setting your schedule, it is sometimes necessary to tell people "No." Please select the best answer from the choices provid
    10·2 answers
  • In a conversation with a coworker, you're not sure what she said about the Clearwater building site. By repeating what you think
    11·1 answer
  • If the minority price for a single share of stock of a company is $20, if there are 500 thousand shares of stock, and a person o
    6·1 answer
  • When using analytics programmes on your website, which of these do not fall under the category of a metric?A Browser users use t
    10·1 answer
  • The Skulls, a student social organization, has two different locations under consideration for constructing a new chapter house.
    7·1 answer
  • 14 Points PLLSSS HELP
    9·1 answer
  • A manufacturer of banana chips would like to know whether its bag filling machine works correctly at the 420 gram setting. Is th
    7·1 answer
  • Type the correct answer in the box spell all words correctly George has to be present the goals of information management to his
    12·1 answer
  • Quantco, a domestic corporation, is an engineering consulting firm that has its main offices in San Diego, California. Because Q
    14·1 answer
  • What is the sharpe ratio (reward-to-variability) of the cal line that joins the risk-free asset and optimal risky asset p?
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!