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frez [133]
2 years ago
11

In 2000, Michael purchased land for $100,000. Over the years, economic conditions deteriorated, and the value of the land declin

ed to $60,000. Michael sells the property in this year, when it is subject to a $30,000 nonrecourse mortgage. The buyer pays Michael $34,000 cash and takes the property subject to the mortgage. Michael incurs $5,000 in real estate commissions. Michael's gain or loss on the sale is:_______
a. $4,000 gain.
b. $1,000 loss.
c. $36,000 loss.
d. $41,000 loss.
Business
1 answer:
PIT_PIT [208]2 years ago
3 0

Answer:

D) $41,000 loss.

Explanation:

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ABC Tax Planning Service started business in January 2018. The company rented an office for $5,400 per month starting from Janua
Sholpan [36]

Answer:

balance in the Prepaid Rent account as of April 30 is $10800

Explanation:

given data

rent office =  $5,400 per month

rent paid = 6 month i.e January 1 to June 30

to find out

balance in the Prepaid Rent account as of April 30

solution

we know here that Period Expired till April 30 = 4 months ( January 1 to April 30)

and

so Period Balance = 2 Months  ( May 1 to June 30 )

so Prepaid Rent is = Balance Period × Rent per month

Prepaid Rent = 2  × 5,400

Prepaid Rent = $10800

so balance in the Prepaid Rent account as of April 30 is $10800

6 0
2 years ago
The price of crude oil increases 50%. This will cause a change in ( supply/ quality supplied )
Paladinen [302]

Answer:

See below

Explanation:

A price increase motivates suppliers to avail more products for sale in the markets. High prices tend to have a high margin hence more profits. Like other businesses, oil producers are profit-motivated; they will supply more quantities if there is a high probability of making more profits.

The law of supply explains the correlation between supply and price. As prices increase, supply also tends to increase.

5 0
2 years ago
Julio is the owner of Party Pros, Inc., a party supply company. The company provides tents, tables, chairs, and related products
wel

Answer:

Line organization model

Explanation:

Based on the information provided within the question it seems that Party Pros Inc. is using a Line organization model. This is an organizational structure in which power flows from the top to the bottom, meaning that the person at the top is the owner and the individuals in each level of the hierarchy answer to those in the upper levels, all of which are trying to accomplish the same organizational goals. Such as is being described in this situation.

8 0
3 years ago
The principal offensive strategy options include all of the following EXCEPT:A.using a cost advantage to attack competitors on t
Len [333]

Answer:

All are options for offensive strategy

Explanation:

In this question, we are trying to select an option which is not in terms with the other options as regards what principal offensive strategy should be.

Now, what the term principal offensive strategy refers to is that it is a type of corporate strategy that pushes for changes within the industry. What we are trying to say is that, the principal offensive strategy pursues an agenda that is pushing for a change within the industry.

Efforts might be concerted or individual steps might be taken. Hence, various techniques or strategies are in place to be used.

Offensive strategy types includes, an end run strategy where a company does not want competition and thus explore the part of the market with little or none.

A preemptive one which seek to conform some advantages on the company as it is the first one based on demographics

Others include: an acquisition and a direct attack strategy

3 0
3 years ago
The additional security option, used for credit card transactions, that keeps track of a customer’s historical shopping patterns
Otrada [13]

Answer: the correct answer is d. transaction-risk scoring software.

Explanation: The additional security option, used for credit card transactions, that keeps track of a customer’s historical shopping patterns and notes deviations from the norm is <u>transaction-risk scoring software.</u>

3 0
3 years ago
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