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
Alona [7]
2 years ago
12

If a seller needs to net $50,000 after the sale, how much must the real estate sell for if the selling costs include a 7% commis

sion and $1,200 in other expenses
Business
1 answer:
Masja [62]2 years ago
4 0

Answer:

$55,054

Explanation:

Calculation for how much must the real estate sell for

Sales price =($50,000 + 1,200)/(100% - 7%)

Sales price=$51,200/0.93

Sales price =$55,053.76

Sales price =$55,054 (Approximately)

Therefore the amount that the real estate must sell for if the selling costs include a 7% commission and $1,200 in other expenses will be $55,054

You might be interested in
At September 1, 2017, Five-O Inc. reported retained earnings of $136,000. During the month, Five-O generated revenues of $20,000
Ahat [919]

Answer:

correct answer is $142,000 credit

Explanation:

given data

retained earnings = $136,000 credit

revenues = $20,000

expenses = $12,000

purchased equipment = $5,000

paid dividends = $2,000

solution

we get here first net income that is

net income = revenues  - expenses  ...........1

net income = $20,000 - $12,000

net income = $8,000

now we get here balance in retained earnings that is

balance of retained earning = Retained Earnings + net income - dividends ..........2

balance of retained earning = $136,000 + $8,000 - $2,000

balance of retained earning = $142,000  credit

 so correct answer is $142,000 credit

4 0
3 years ago
Which of the following statements is true of financial leverage
Sidana [21]
Maybe take a picture of it so i can help:)
6 0
2 years ago
On November 10 of the current year, Flores Mills sold carpet to a customer for $8,000 with credit terms 2/10, n/30. How would Fl
Llana [10]

Answer:                                                                      

C.) Accounts receivable 7,840 Cash discounts 160 Sales 8,000

Explanation:

Assuming for now that credit customer will avail the cash discount, the following journal entry shall be made on November 10 by Flores mills in respect of credit sales made by it.

                                                                   Debit                 Credit

Accounts receivable                                  $7,840                          

Cash discount                                             $160

(8000*2%)

Sales                                                                                      $8,000                                                                        

Based on the above discussion, the answer shall C.) Accounts receivable 7,840 Cash discounts 160 Sales 8,000

6 0
3 years ago
Taylor and Sons buys equipment on Aug. 1, 2008 for $100,000 cash. They estimatethe equipment will have a salvage value of $13,00
larisa86 [58]

Answer:

Journal Entry

Dr.  Depreciation Expense        $7,250

Cr. Accumulated Depreciation $7,250

Explanation:

Depreciation is a expense which is charged against an asset over its useful life due to wear and tear of that asset. This expense is recorded as and Expense in Income statement and accumulated in an contra asset account asset account until the disposal of the asset.

Cost of Equipment = $100,000

Useful life of the asset = 5 years

Salvage value of the asset = $13,000

Depreciable value of the asset will be expenses equally every year over 5 years.

Depreciable value = Cost of the asset - Salvage value = $100,000 - $13,000 = $87,000

Depreciation Expense = Depreciable Value / Useful Life of the asset = $87,000 / 5 years = $17,400 per year

As only 5 month have been passed in 2008, the depreciation expense account will be charged as follow

Depreciation charge in 2008 = $17,400 x 5 / 12 = $7,250

8 0
3 years ago
Blue Spruce Company is considering two new projects, each requiring an equipment investment of $101,800. Each project will last
Lunna [17]

Answer:

50,400 44,400

0.79719

1.69005

5 0
2 years ago
Read 2 more answers
Other questions:
  • The ​state and performance of a raid-z volume can be viewed using what two commands?
    14·1 answer
  • The stock of Canadian Ski Wear is currently trading at $45 a share and the company is expected to pay a dividend of $1.50 a shar
    7·1 answer
  • ________________ software analyzes vast stores of historical business data that have been prepared for analysis in corporate dat
    15·1 answer
  • f the interest rate is 7.8% per year, approximately how long will it take for your money to quadruple in value? (Use the Rule of
    9·1 answer
  • A consumer might read a corporate blog in order to ________.
    7·2 answers
  • What annual growth rate is needed for a country to double its output in each of the following cases? Instructions: Round your an
    11·1 answer
  • The one thing that unites all economists is looking at problems from: a. everybody's perspective. b. a detailed risk analysis. c
    14·1 answer
  • A software engineer believes that if she can complete her current project on time she will get her much awaited promotion to the
    9·1 answer
  • Type the correct answer in the box. Spell all words correctly. Which view in a presentation program displays your slides in full
    15·2 answers
  • When there is a climate of mistrust, employees Multiple Choice focus only on individual incentives. tend to create conflict. are
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!