Ask question

Ask question

All categories

3 years ago

7

Olivia asks several real estate agents to help her sell her house. A buyer is found. At the closing, no agent receives a commiss

ion. What type of listing agreement did Olivia make

1 answer:

STALIN [3.7K]3 years ago

8 0

Answer: Open Listing

Explanation: The seller sold the real estate herself therefore she did not have to pay a commission.

You might be interested in

Prepare general journal entries to record these transactions using the following titles: Cash (101); Accounts Receivable (106);

GuDViN [60]

Answer:

Eric Pense Journal Entries:

a. Dr Cash$23,000

Dr Office Equipment12,000

Cr Pense, Capital$35,000

b. Dr Land $8,000

Dr Building $33,000

Cr Cash$15,000

Cr Notes payable$26,000

c.Dr Supplies 600

Cr Accounts payable$600

d.Dr Automobile$7,000

Cr Capital$7,000

e.Dr Office Equipment$1,100

Cr Accounts payable$1,100

f.Dr Salary $800

Cr Cash$800

g.Dr Cash$2,700

Cr Fees Earned$2,700

h. Dr Utilities Expense$430

Cr Cash$430

i.Dr Account payable$600

Cr Cash$600

J. Dr Office Equipment $4,000

Cr Cash$4,000

k. Dr Accounts receivables$2,400

Cr Fees Earned$2,400

l. Dr Salary$800

Cr Cash$800

m. Dr Cash$1,000

Cr Accounts Receivable$1,000

n.Dr Pense, Withdrawal$1,050

Cr Cash$1,050

Explanation:

8 0

3 years ago

On gifts 1 – 10, the gift giver receives a net gain from giving gifts. On gifts 11-20, the gift giver receives a net loss from g

alekssr [168]

Answer:

Following are the solution to the given question:

Explanation:

Its information to respond to this query is not enough. A real income or losses shall get into relation to the gross income received by the donor by providing gifts 1 through 10 or net loss earned by the donor through gifts 11 to 20.

8 0

3 years ago

Abbie Marson is the sole owner and operator of Great Plains Company. As of the end of its accounting period, December 31, Year 1

Nataliya [291]

Answer:

The net income for Year 2 is $ 114,482

Explanation:

Accounting Equation is used in order to calculate the closing capital figure of Year 1 and Year 2:

Assets=Liabilities + Equity.

we can rearrange the formula as Assets-Liabilities = Equity

So in Year 1. the closing capital is: $910,049-$274,794 = $635,255.
In Year 2. the closing capital is : $988,160-$234,792 = $ 753,368

Now we can construct an equation to drive net income of year to by means of balancing figure:

Opening capital year 1: $635,255

+ Additional Capital in Year 2: $28,651

-Drawing in year 2: $(25,020)

Net Income(Balancing figure) <u>$114,482</u>

Closing Capital Year 2: $ 753,368

7 0

3 years ago

Read 2 more answers

Uncollectible accounts are determined by the percent-of-sales method to be 22% of credit sales. How much is uncollectible-acc

dybincka [34]

Answer:

Therefore uncollectibel account expense = 0.22 x 94,000 = $20,680

Explanation:

Uncollectible accounts are determined by the percent-of-sales method to be 22% of credit sales. How much is uncollectible-account expense for 2014?

Uncollectible Accounst will simply be 22% multiplied by the credit sales figure for the year.

Accounts Receivable.....26,000

Allowance for collectible account...1,500

Credit sales for 2014 ...$94,000

Cash Sales for 2014.....28,000

Collection from customers on account...100,000

Therefore uncollectibel account expense = 0.22 x 94,000 = $20,680

6 0

3 years ago

Insurance is a financial service that allows a

ddd [48]

<span>consumer to share liability with a company.</span>

5 0

3 years ago

Read 2 more answers