The highest amount that the buyer will have to pay is the final sale value price plus the value of the sales tax. In this case, the buyer will be paying $523,800 for the house.
<h3>What is Sales Tax?</h3>
Sales tax refers to a form of tax levied with the aid of using the government while commodities are bought withinside the market.
The burden of the sales tax falls on the vendor however is in the end paid with the aid of using the consumer. It may be categorized as an indirect tax.
Given information:
Cost price by buyer = $525000
Selling price by seller = $485000
Sales tax = 8%
Sales tax amount = selling price x sales tax percentage
= $485000 * 0.08
= $38800
Selling price = $485000 + $38800 = $523,800
Therefore, The highest amount that the buyer will have to pay is the final sale value price plus the value of the sales tax. In this case, the buyer will be paying $523,800 for the house.
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Answer:
avoid full liability for the business
Explanation:
Based on the scenario being described, the best reason for Mario and Johnny to create a general partnership is that they want to avoid full liability for the business. This makes creating a general partnership great since this is a business arrangement by two or more individuals who agree to share in all assets, profits, and financial and legal liabilities of a jointly-owned business, meaning sharing all liability for the business as well.
Answer:
A general lien is one placed against any and all real and personal property owned by a particular debtor. An example is an inheritance tax lien placed against all property owned by the heir. A specific lien attaches to a single item of real or personal property, and does not affect other property owned by the debtor.
Explanation:
Answer:
The correct answer is A
Explanation:
Financing activities are those activities which involve the cash payments as well as cash receipts, that relate to the external financing of the business and also involve the obtaining of resources from the owners and repay resources to creditors.
The example of financing activities are repayment as well as borrowing of money, issuance of the securities and payment of dividends.
So, from the above options, the one which is reported as the financing activities in the cash flows statement involve is the payment of interest on the bonds payable.
They should agree to work together to develop a plan to maximize their combined revenues and Profits.
When it comes to business success, profitability and expansion go hand in hand. Growth is essential to long-term success and profit, whereas profit is necessary for a corporation to survive financially on a fundamental level. Investors should consider each consideration in light of the individual company in question.
Increasing profitability can also assist businesses in obtaining capital from financial institutions, investors, and shareholders. If a business is currently not profitable, growing profitability may enable the eventual production of profit, which ultimately enables the business to continue to operate.
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