Answer:
The debit and credits for the tax proration will be as follows:
Debit seller for $483.29; and Credit buyer for $483.29.
Step-by-step explanation:
The assignment of how much is owed to the responsible party is the major reason of a proration.
For the days owned by the seller, the buyer needs money from the seller since the buyer will pay the taxes at end of the year.
Amount per day = Annual tax bill / 365 = $2800 / 365 = $7.67
Total number of days from January 1 to a day before March 5 = Number of days in January + Number of days in February + Number of days from March 1 to March 4 = 31 + 28 + 4 = 63
Amount the seller owes for the time he owned = Amount per day * Total number of days from January 1 to a day before March 5 = $7.67 * 63 = $483.29
Therefore, the debit and credits for the tax proration will be as follows:
Debit seller for $483.29; and Credit buyer for $483.29.
The answer will also decrease.
To add fractions, find the LCD - lowest common denominater, and then Combine. For LCD find where both bottom numbers equal the same so in this case you would have to multiply 9 times 11 and vice versa to equal 99. Once you do that the 5 thats on top of the 9 will also have to be multiplied by 11 and the 4 on top of the 11 will have to be multiplied by 9 so it could make sense. Now you must Combine - it would be 55/11 + 36/11. you only add the top numbers and leave the bottom number.(that is what its out of). Thus the answer is 91/11.
Answer is 99
Answer:
Step-by-step explanation:
The value of 7 in 2,751 is 700 since 7 is in the hundred place in the value
The value of 7 in 7,433 is 7000, since 7 is in the thousand place in the value.
In order to know how many times the 7 in 2,751 is more than 7 in 7,433, we will take the ratio of 700 to 7000 as shown:
ratio = 700:7000
ratio = 700/7000
ratio = 0.1
Hence the value of the 7 in 2,751 is <u>0.1 times</u> the value of the 7 in 7433
