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2 years ago

What does contingent mean on a real estate listing

Business

1 answer:

agasfer [191]2 years ago

4 0

Answer:

Contingent means "depending on certain circumstances." If a house is listed as contingent in real estate it means that an offer has been made and accepted, but before the deal is complete some additional criteria must be met.

Explanation:

Hope this helps! (I just looked it up) Good luck!!

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Skysong, Inc. took a physical inventory on December 31 and determined that goods costing $235,000 were on hand. Not included in

jasenka [17]

Answer: Skysong should report $284,600 as it's December 31 inventory.

Firstly, FOB is a term meaning free on board and can be defined as without charge to the purchaser for delivery on board a carrier (originally a ship), at a specified location or point. It is often used in such phrases as FOB destination to specify the point where the title of goods passes from the seller to the buyer.

Skysong should report $284,600 because that's the total sum of the actual inventory. Summation of $235,000 goods at hand, $27,800 of goods purchased from Pelzer Corporation, and $21,800 of goods sold to Alvarez Company gives $284,000.

5 0

3 years ago

E3-33B. (Learning Objectives 1, 3: Journalizing adjusting entries and analyzing their

myrzilka [38]

The act of logging any transaction, whether or not it is an economic one, is known as a journal entry. Transactions are listed in an accounting journal that shows a company's debit and credit balances.

<h3>Give a brief account on adjusting journal entries.</h3>

An adjusting journal entry is one that is made at the end of an accounting period in the general ledger of a business to record any unrealized income or expenses that occurred during the period. An adjusting journal entry is necessary to accurately account for a transaction that happens between two accounting periods.

To solve the question :

1. Adjusting journal entries are as follows :

Particulars Debit. Credit

a. Insurance expense A/c

($800 + $2,500 - $2,400) $600

To prepaid insurance A/c $600

(entry for expired portion of

prepaid insurance)

b. Interest receivable A/c $1,200

To interest revenue A/c $1,200

(adjusting entry for

accrued interest revenue)

c. Unearned service revenue A/c ($1,500 - $600) $900

To service revenue A/c $900

(entry for earned portion of

unearned service revenue)

d. Depreciation expense A/c $4,700

To accumulated depreciation A/c $4,700

(To record depreciation expenses)

e. Salaries Expense A/c

($24,000 / 5 days × 3 days) $14,400

To Salaries payable A/c $14,400

(To record accrued salaries expenses)

f. Income tax expense A/c

($21,000 × 25%) $5,250

To income tax payable A/c $5,250

(To record income tax expenses)

2. Calculating whether these omitted adjustments resulted in an overstatement or underestimate of net income

a. Adjusting Entry for Insurance Expense of $600 : Overstated

b. Adjusting Entry for accrued revenue of $1,200 : Understated

c. Adjusting entry for Service Revenue Earned of $900 : Understated

d. Adjusting Entry for Depreciation Expense of $4,700 : Overstated

e. Adjusting Entry for Salaries Expense for

three day of $14,400 : Overstated

f. Adjusting Entry for Income Tax Expense of $5,250 : Overstated

Impact on Net Income without Adjusting Entries of $22,850 : Overstated

To know more about, journal entries, visit :
brainly.com/question/15889958

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7 0

1 year ago

Kim is trying to decide whether she can afford a loan she needs in order to go to chiropractic school. Right now Kim is living a

Vinil7 [7]

Answer:

Explanation:

Gross income = 1070

net income = gross income - tax = 1070 - 210 = 860

payment to credit card = 128

debt payment to income ratio without college loan

= 128 / 860

= .1488

7 0

3 years ago

Question 4

SashulF [63]

1. The calculated capital budgeting techniques yielded the following results:

A. Accounting Rate of Return (AROR) is <u>28%</u>.

B. Payback Period Technique (PBP) is <u>5 years</u>.

C. Net Present Value Technique (NPV) is <u>RM33,588</u>.

D. Profitability Index (PI) is <u>1.056</u>.

2. The project should be accepted based on the positive results above.

3. The importance of capital budgeting techniques lies in the fact that they aid capital decision-making by measuring their probable outcomes.

<h3>What are capital budgeting techniques?</h3>

Capital budgeting techniques are capital investment evaluation tools.

Some of the capital budget tools include the Payback Period, Discounted Payment Period, Net Present Value, Proﬁtability Index, Internal Rate of Return, and Modiﬁed Internal Rate of Return.

These capital budgeting techniques help management to evaluate capital projects and to choose investment strategies.

<h3>Data and Calculations:</h3>

Investment cost = RM600,000

Cost of capital = 12%

Net Cash Flows PV Factor Present Value

Year 0 RM600,000 1 (RM600,000)

Year 1 RM100,000 0.893 89,300

Year 2 110,000 0.797 87,670

Year 3 121,000 0.712 86,152

Year 4 133,100 0.636 84,652

Year 5 146,410 0.567 83,014

Year 6 RM400,000 0.507 202,800

Present value of cash flows = RM633,588

Net Present Value RM33,588

Total Net Cash Flows = RM1,010,510

Average Net Cash flows = RM168,418 (RM1,010,510/6)

Accounting Rate of Return = Average Income/Initial Cost

= 28% (RM168,418/RM600,000 x 100)

Payback period = 5 years

NPV = Initial Investment - PV of net cash flows

= RM33,588

Profitability Index = Present value of cash flows/Initial Cost

= 1.056 (RM633,588/RM600,000)

Learn more about capital budgeting techniques at brainly.com/question/17159659

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8 0

2 years ago

2. Damaged batteries need to be placed in an acld-resistant container or tub Immediately.

katrin2010 [14]

The answer is B. Batteries contain sulphuric acid, of the battery is damaged the acid can be corrosive but it’s not toxic too rich, simply dispose of it.

6 0

3 years ago

Read 2 more answers