What are 2 different payments relating to insurance that are used for almost all kinds of insurance?

On February 1, a seller paid $1,140 in annual property tax for the current calendar year. He sold the house with the closing set

Vera_Pavlovna [14]

Given:

Annual property tax = $1,140

Number of days = 91

To find:

Seller's credit for property tax

Solution:

The following is the calculation of the seller credit for property taxes,

$\text{Seller credit for property taxes} = \text{Total tax}\times \frac{\text{Number of days}}{360}$

On plugging-in the values we get,

$\text{Seller credit for property taxes} = \$1,140\times\frac{91}{360}$

$\Rightarrow \$1,140\times0.25278 = \$288$

Therefore, the seller's credit for property taxes is $288.

6 0

3 years ago

Those aspects of business that a retailer can directly affect are referred to as ________.

Alexeev081 [22]

Those aspects of business that a retailer can directly affect are referred to as controllable variables. Generally speaking, strategy, marketing, finances, human resources, technology and equipment, and operations make up the six functional areas of business management. As a result, all business planners should focus on thoroughly investigating and comprehending these topics as they apply to the specific business.

The book All Aspects of the Business/Organization lists nine characteristics that apply to all businesses. The book All Aspects of the Business/Organization lists nine characteristics that apply to all businesses. For success, learners should practice and comprehend the related ideas and abilities.

To learn more about business, click here.

brainly.com/question/15826679

#SPJ4

5 0

1 year ago

Using the following accounts and balances, prepare the Stockholders’ Equity section of the balance sheet. Refer to the lists of

uysha [10]

Answer:

Explanation:

Stockholder's Equity

Paid in Capital:

Common Stock $48,000,000

Paid in Capital in excess of Par - Common Stock $6,400,000

Paid in Capital from sale of Treasury Stock $4,500,000

[58,900,000]

Total Paid in Capital $58,900,000

Retained earnings $63,680,000

Total Paid in Capital & Retained Earnings $122,580,000

Deduct: Treasury Stock $5,200,000

Total Stockholder's Equity $117,380,000

7 0

3 years ago

On December 31, prior to adjustment, Allowance for Uncollectible Accounts has a credit balance of $400. An age analysis of the a

slega [8]

Answer:

Bad debts expense Debit $ 600

Allowance for Uncollectible expenses Credit $ 600

Explanation:

The allowance for uncollectible accounts is estimated usually on the basis of a percentage of credit sales. The data in the question indicates that the estimated losses from uncollectible accounts is $ 1,000.

The unadjusted balance is $ 400, so the adjusting entry is for the balancing amount, i.e. $ 600. It is debited to bad debts and credited to allowance for uncollectible accounts.

4 0

3 years ago

You own a portfolio that has a total value of $210,000 and it is invested in Stock D with a beta of .87 and Stock E with a beta

Crazy boy [7]

Answer:

The dollar amount of the investment in Stock D is (x=$156470.59)

Explanation:

Let assume investment in Stock D = $x

Hence investment in Stock E = (210,000-x)

Portfolio beta=Respective betas * Respective investment weights

1= (x/210,000*0.87) + (210,000-x) /210,000*1.38[Beta of market=1]

(1*210,000) = 0.87x + 289800 -1.38x

290,000=0.87x+289800-1.38x

Hence x=(289800-210,000)/(1.38-0.87)

x= 79,800 / 0.51

x=156470.5882

x=$156470.59

6 0

2 years ago