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devlian [24]
3 years ago
15

Why might someone decide to lease a home?

Business
1 answer:
VikaD [51]3 years ago
6 0

Answer:

The answer is below

Explanation:

1. There are various reasons someone might decide to lease a home, one of which is to maintain a budget as the tenant only pays rent and utility bills rather than property taxes, repairs, maintenance, and replacement cost.

2. Some types of things landlords are responsible for when renting homes is to provide a comfortable, safe, and neat home for the tenant. This includes payments of property taxes, repairs, maintenance, and replacement.

3. Some types of things you should consider if you are buying a newly built home are finances, location, timelines or duration, design, purpose: if it is for personal use or rent, etc.

4. Apartment is a rented residential space, while the condominium is an owned residential space. This implies that that, a residential space that is occupied by a tenant is called an apartment, while the one occupied by the actual owner is called a condominium.

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Record the entry to close the income summary assuming the partners agree to use plan c and net income is $460,500
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The entry is record in book as

Date Particular                L.F.     Dr. Amt.        Cr. Amt.

Income summary a/c             $460,500  

To Mo a/c                                          $69,300

To Lu a/c                                          $269,500

To Barb a/c                                          $431,200

What is net income?

The total amount of firm profit after deducting all taxes, costs, and interest is referred to as "net income."

Particulars                 Mo           Lu                 Barb

Capital invested        $69,300    $269,500  $431,200

Profit sharing ratio 20/100   40/100         40/100

Profit ($460,500)         92100    184200 184200

As a result,  Mo is  92100;  Lu is 184200; Barb is 184200 as profit.

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2 years ago
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