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andreyandreev [35.5K]
2 years ago
5

A buyer made an earnest money offer to purchase property, and the broker placed the funds in his trust account. After the seller

's acceptance but prior to opening of escrow, the buyer informs the broker that he has revoked his offer and demands the return of the deposit. The broker, not wanting to be involved in the conflict with respect to the disposition of the deposit funds, deposited them with the appropriate court. This would be an example of
Business
1 answer:
Alex17521 [72]2 years ago
7 0

Answer: Interpleader

Explanation:

The broker just engaged in an Interpleader action which is an action that allows a person who does not own a certain property to get the claimants to the property to go to court for it. The Court will then decide who should get the property after proceedings.

The Broker does not own the deposit but seeing as he did not want to get into trouble with either the Seller or the Buyer, he put the deposit with the courts so that they would decide who owns the deposit.

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Fred Stone is an employee of Henrock Company. During the first part of the year, Stone earned $4,340 while working in State Q. F
lyudmila [28]

Answer:

$280

Explanation:

SUTA is a synonym for State Unemployment Tax paid by employers and employees , and used by the government to provide the insurance expenditures for the unemployed citizens

The reciprocal arrangement exempts the tax payer from his former country of work. H e will be taxed in the new country of work at the applicable rate

SUTA ceiling earning = $7000

SUTA rate = 4.0%

SUTA = $280

5 0
3 years ago
Presented below are a number of transactions. Determine whether each transaction affects common stock, dividends, revenue, expen
marin [14]

Answer:

(a) It affects expense account.

(b) It affects Revenue account.

(c) It affects expense account.

(d) It affects Expense account.

(e) It affects Dividend account.

(f) It affects Revenue account.

(g)  It affects Expense account.

(h)  It does not affect stockholders’ equity because purchase of equipment for cash doesn't affect stockholders’ equity.

(i) It affects Common stock account.

4 0
2 years ago
True or false: The first decision that is necessary to make merchandise flow is to choose a transportation company.
pantera1 [17]

Answer:

False

Explanation:

What is a transportation company called?

  • Courier companies are usually spin-offs from freight forwarders.
  • There are various types of courier companies, such as airfreight courier companies or road couriers.

To learn more about it, refer

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8 0
1 year ago
Specific identification is ______. Multiple choice question. a high-tech security technique for identifying key employees a deta
ELEN [110]

Specific Identification is the accounting record of the transactions of the proposal, that is, an inventory method that tracks which item is actually sold and debits.

<h3>What is specific identification?</h3>

It is an accounting record between income and expenses, used to keep track of identifiable and cost-specific inventory items.

This method gives managers or members of an entity a greater possibility of manipulating profits by identifying units in ending inventory as coming from specific purchases.

Therefore, we can conclude that the specific identification method is to track the cost of each item or category of products in the inventory.

Learn more about specific identification here: brainly.com/question/25056275

6 0
2 years ago
Where do you pay a bill by credit card when the bill was not entered through the enter bills window?
omeli [17]

To pay the bill by credit card when the bill was not entered through the enter bill window -The pay bill windows on the Home window are used to pay a bill by credit card.

Write check window is used to pay sales tax,payroll taxes and when paying bill track with accounts payable.

Credit cards let you borrow money from a bank below the agreement that you will pay off it by way of your bill's due date or incur interest fees.

A credit card is a kind of credit facility, provided through banks that allow customers to borrow finances inside a pre-authorized credit score restriction. It enables clients to make buy transactions on goods and services.

A credit score card loan works like a personal mortgage from a bank, with cash deposited at once into your financial institution account and repaid in month-to-month installments.

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4 0
1 year ago
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