Answer:
The broker cannot do this since
Explanation:
There are two main errors in this proposal:
- the escrow account can be an interest bearing only if deposit 20% or less of the purchase price of the property. Apparently in this case the property was being sold at $1.5 million, so the escrow account should only hold $300,000 in an interest bearing account.
- second, real estate commissions forbid brokers and agents from receiving interest from an interest bearing escrow account unless they are the owners of the property (the sellers or lessors depending on the operation).
I would say true because hiring more people would allow more production
Answer:
false
there is no ownership atribution between siblings, cousins, or a mother-in-law and son-in-law
Answer:
1. At August 31, Roddick owed his employees $1,900 in wages that will be paid on September 1.
Dr Wages expense 1,900
Cr Wages payable 1,900
2. At the end of the month, he had not yet received the month’s utility bill. Based on past experience, he estimated the bill would be approximately $600.
No journal entry necessary, you cannot make records based on approximate expenses. You should make the adjusting entry after the bill is received, not before.
3. On August 1, Roddick borrowed $30,000 from a local bank on a 15-year mortgage. The annual interest rate is 8%.
Dr Interest expense 200
Cr Interest payable 200
4. A telephone bill in the amount of $117 covering August charges is unpaid at August 31.
Dr Telephone expense 117
Cr Telephone payable 117
The price of Acme Company's stock will likely RISE.
There is a limited number of stocks available and because the demand for the stock is high and rising, the company needs to increase its price. The increase is price will make it more valuable to potential buyers and it will serve as deterrent to those who can't afford to buy the stock at its high price.
In short: supply is low, demand is high, resulting to an increase in price.
