That fees are called the Closing costs
These payment usually being done when both the buyer and the seller close the deal.
Closing costs can be incurred by either buyer or the seller, such as :
- Attorney fees
- Survey Fees
- documentation fees
- Home Warranties , etc
Answer:
(B) The firm issued common stock in 2018
Explanation:
Given that the firm's common stock doubled from $1,000 to $2,000 from 2017 to 2018, it is reasonable to assume that the firm issued common stock in 2018.
Option A is incorrect as the firm's net income was likely lower and, more likely, negative in 2018. A decline in retained earnings from 2017 to 2018 by $340 suggests that the firm likely made a net loss of $340 in 2018.
Option C is incorrect because market prices of a firm's own common stock are not accounted for in its shareholders' equity. Only the book value are account for.
Option D is incorrect because the net income in 2018 was likely negative due to the year-on-year decline in the retained earnings
Option E is incorrect as we cannot ascertain it the firm has more equity than debt because sufficient information to reach that conclusion was not provided.
Persuasive advertising serve as kind of advertising that build selective demand.
- Persuasive advertising can be regarded as a form of product promotion which convince the potential customer in a persuasive manner to purchase a specific product.
- It is a kind of advertising that bring about Selective demand whereby demand for a specific brand is been set as a result of the advert to the potential customer.
Therefore, Persuasive advertising is the correct term.
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Answer: See explanation
Explanation:
Merchandise inventory are goods which a wholesaler or distributor has gotten from the suppliers in order to sell to third parties.
On May 9, merchandise inventory was calculated as:
= 960 ÷ 13000 × 7800
= 576
Check the attached file for further explanation
Spencer corp.'s attorney calculates that the company will ultimately control to pay between $250,000 and $500,000 relating to current litigation. spencer should accrue a contingent liability and loss of: $250,000.
<h3>What is contingent liability?</h3>
Liabilities that may be incurred by a company dependent on the result of an uncertain future event, such as the result of an ongoing lawsuit, are known as contingent liabilities. When they are both probable and reasonably estimable as a "contingency" or "worst case" financial consequence, these obligations are not recorded in a company's records and are not displayed on the balance sheet.
The kind and size of the contingent liabilities may be described in a footnote to the balance sheet. It is feasible to categories a loss's possibility as remote, improbable, or probable. It can be known, reasonably estimable, or not reasonably estimable whether a loss can be estimated. It might or might not happen.
Hence, Spencer corp.'s attorney calculates that the company will ultimately control to pay between $250,000 and $500,000 relating to current litigation. spencer should accrue a contingent liability and loss of: $250,000.
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