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1 year ago

The newest employee at Edwards Escrow Co., Adam Riley, is handling the escrow

1 answer:

5 0

Since Adam cannot remember the number he used for the proration, then, he should use 28 days because that is the actual number of days in February,

Proration is an act of dividing the property expenses between a buyer and seller to ensure that the parties only pay for the days they owns the property.

Since the month of February contains 28 days, then, the number of days used in the calculation of the Proration will be maximum of 28 days

Therefore, the Option A is correct because 28 days is the actual number of days in February.

Missing options includes

28 days because that is the actual number of days in February, the month for which the prorations are being calculated.,
30 days which escrow companies use as their base month in figuring out prorations
31 days which escrow companies use as their base month in figuring out prorations.

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Which of the following is most likely used by a seller to target an impulse buyer? a. contest b. coupon c. display d. rebate Ple

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C. Display would be the most accurate

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2 years ago

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Which government body authorized CTSOs

KIM [24]

Answer:

The U.S. Congress authorized CTSOs.

Explanation:

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2 years ago

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Both supply and demand concepts rest on the relationship between quantity supplied or demanded.

Rashid [163]

Answer:

False

Explanation:

Both supply and demand concepts rest on the relationship between price and quantity.

Quantity demanded increase when price falls and falls when price increases.

Quantity supplied increases when price increases and falls when price falls.

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I hope my answer helps you

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3 years ago

Terry company had january 1 inventory of $100,000 when it adopted dollar-value lifo. during the year, purchases were $600,000 an

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Answer:

Terry's Closing Inventory is $131,360.

Terry's Gross profit is $431,360.

We follow these steps to arrive at the answers:

1. Calculate the base value of closing inventory (CI):

$CI_{base value} = \frac{CI*Index at base year}{current price index}$

$CI_{base value} = \frac{143360*100}{112} = 128,000$

2. Calculate additions to inventory at base price

$Additions to inventory = CI_{base value} - Beginning inventory$

$Additions to inventory = 128000 - 100000 = 28,000$

3. Calculate the value of additions to inventory at current prices

$Additions to inventory_{current Value} = Additions to inventory_{base Value} * \frac{current price index}{base price index}$

$Additions to inventory_{current Value} = 28,000 * \frac{112}{100} = 31,360$

4. Calculate the value of Closing inventory

$Closing inventory = Beginning Inventory + Additions to inventory_{current Value}$

$Closing inventory = 100,000 + 31,360 = 131,360$

5. Compute Cost of Goods Sold (COGS):

$COGS = Opening Inventory + Purchases - Closing Inventory$

$COGS = (100000 + 600000 - 131360) = 568640$

6. Compute Gross profit

$Gross profit = Sales - COGS$

$Gross profit = 1000000 - 568640 = 431360$

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2 years ago

Miami Solar manufactures solar panels for industrial use. The company budgets production of 4,800 units (solar panels) in July a

azamat

Answer and Explanation:

The preparation of the factory overhead budget for August month is shown below:

Total budgeted direct labor $286,000

(5,500 × 4 hours × $13)

variable factory overhead 70%

Budgeted overhead $200,200 ($286,000 × 70%)

Add: Fixed overhead $179,000

Budgeted total factory overhead $379,200

Hence, the budgeted total factory overhead is $379,200

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2 years ago