property taxes are $4,200 per year. The closing is April 20th and closing day is charged to the buyer. Using the 365-day method, how will the proration of property taxes show on on the closing statement?

Answers

Answer 1

Answer:

Dr Seller $1,254.25

Cr Buyer $1,254.25

Explanation:

Calculation for how will the proration of property taxes show on the closing statement

First step is to calculate days of seller ownership

Days of seller ownership= 31 days in January 31 + 28 days in February+31 days in March + 19 days in April

Days of seller ownership=109 days

Second step is to calculate the tax owed by the seller using this formula

Tax owed by the seller =[(Property taxes ÷365 days)*Days of seller ownership]

Let plug in the formula

Tax owed by the seller=[($4,200 per year÷365 days)*109 days

Tax owed by the seller=$1,254.25

Last step is how will the proration of property taxes show on on the closing statement

Closing statement Entries will be show as:

Dr Seller $1,254.25

Cr Buyer $1,254.25

Therefore how will the proration of property taxes show on the closing statement is Debit Seller $1,254.25 and Credit Buyer $1,254.25


Related Questions

What is importing? please help

Answers

bring (goods or services) into a country from abroad for sale. Hope this helps defenition of importing

Best Buy uses sales-performance data to develop methods for improving in-store employee performance. This is an example of following the _______________ viewpoint of management.

Answers

Answer:

Contingency

Explanation:

Contingency viewpoint of management is a flexible style of management that is employed based on the prevailing circumstances and the good judgement of the manager.

The use of sales-performance data to improve employee performance is a flexible means of evaluating employees because it might not be the standard for the company but since the management sees it as an effective means, it is then used.

in Theory Z, workers are expected to become specialists at what they do.


True

False

Answers

Answer:

False

Explanation:

Theory Z of motivation tries to blend the Japanese and American management practices. It is seen as an advancement of theory X and theory  Y motivation theories.

Theory Z emphasizes the need for employees to become generalists rather than specialists. It encourages employers to practice job rotations and continuous training to empower employees. As a result, employees will develop a variety of abilities and skills, which is beneficial to both the worker and the company.

Eddie sells furniture and earns 12% commission. This week he sold a couch for $1234, a bedroom suite for $1789, and a chair for $563. (4 pts.)

Answers

Complete question :

Eddie sells furniture and earns 12% commission. This week he sold a couch for $1234, a bedroom suite for $1789, and a chair for $563. Calculate Eddie's commission.

Answer:

$717.20

Explanation:

Given that :

Percentage commission earned on sale = 12%

Cost of items sold this week:

Couch = $1234

Bedroom suite = $1789

Chair = $563

Total cost of items :

($1234 + $1789 + $563) = $3586

Commission of 20% on sales :

20% of $3586

0.2 * $3586

= $717.20

Arbitration is the final step in the conflict-management process.
False
True

Answers

Answer:

True

Explanation:

Arbitration is a private judicial -like process of resolving conflicts. The two or more conflicting parties select an independent party to make a final and binding decision on the conflicting issue. In general, there is no room to appeal when a decision from an arbitration process.

In arbitration, the conflicting parties are given a chance to present their evidence before the arbitrator. The arbitrator or a panel of arbitrators are experts in law or in the subject causing the conflict. A decision is made after listening and evaluating the evidence produced.

If members of a project team report formally to a functional manager (not directly to the project manager) what type of organization is it

Answers

Answer:

Matrix organization

Explanation:

Hope this was helpful! Have a good day

Every business is unique — including yours! Based on the goals described below, choose the campaign type that could best help you achieve those objectives.

Answers

Answer: Social media campaign

Explanation:

For a business whose objective is trading of a mechanical product called a pump, one of the best way to promote the business to reach goals is through social media campaign. Social media campaign is the use of social media platforms to promote a brand or business with it's services and amazing contents that would make the target market buy the goods.

An organizational chart depicts all of the following except _____ .


the type of organizational design

establishment of lines of authority and communication

span of control

job specialization

Answers

Answer:

job specialization

Explanation:

An organizational chart is a graph showing an organization's hierarchy and its management structure. It demonstrates the chain of command from the most senior executives to the junior officers.  

An organization chart shows all the departments in an organization and their working relationship. However, the chart does not give specific detail on each department's responsibilities or the role of an officer in a department. It does go into the details of specialization.

Are purchase discounts always a debit?​

Answers

Answer:

Yes

Explanation:

because it is and of course its is ask googel

What is one effective strategy for managing credit card debt?
O A. Spending your full credit limit before making a payment
OB. Ensuring that all of your credit card bills are paid on time
Oc. Replacing low-interest credit cards with high-interest options
OD. Paying only the minimum monthly payment on all credit cards

Answers

Answer:

D. Paying only the minimum monthly payment on all credit cards

Explanation:

I Hope That's correct :) ✓

Answer:

B. Ensuring that all of your credit card bills are paid on time

Explanation:

A credit card charge interests on outstanding balances and late payments, among other items. Interests in outstanding balances form a big proportion of credit card charges. Therefore, if one can avoid interest on these balances, their credit card charges will reduce greatly.

Paying the entire balance on the credit card statement ensures one does not incur any interest. Ensuring that all of your credit card bills are paid on time is the most appropriate way of managing credit card debts.

how many meters are in one hectometer

Answers

Answer:

100

Explanation:

Hope this helps!

Merry Christmas.

Answer:

Explanation:

100

small business firms create many -blank- opportunities that help develop communities as well as the counties economy

it's a type your own answer thing ​

Answers

Answer: Small businesses contribute to local economies by bringing growth and innovation to the community in which the business is established. Small businesses also help stimulate economic growth by providing employment opportunities to people who may not be employable by larger corporations.

What type of business is a business owned by a minimum of two and a maximum of fifty shareholders, which limits the liability of owners to the amount invested in shares.

Answers

Answer:

The correct answer is: Private Limited Company

Explanation:

Shareholder s are usually classed as owners of a company because they invested in a company's shares so they also receive entitled portions of profits made by the company.

Private Limited Company :

Some of the noticeable descriptions of a private limited company are:

1. They are limited liability.

2. It allows accounts of the company which includes profits and losses to be made open.

3. The company would still be able to run without, or the demise of the founder.

4. The income of the company is credited to the company's account and not the individuals' account who started the business.

5. Shares of the company cannot be traded and cannot be sold in the open market which eases decision making as the maximum number of shareholders is 50 persons.

6. When it comes to losses, shareholders cannot lose more than the amount they personally invested in the company through shares.

7.  It requires a minimum number of two shareholders.

 

Explain what "stakeholder theory" means and identify specific ways in which pressure from stakeholders other than shareholders has influenced corporate governance and reporting practice. Solutions are mere tokenism and fail to address the fundamental problems confronting companies?

Answers

Answer:The stakeholders are on the lookout to ensure the firm performs maximally and would want the best decision in place. This is how they influence corporate governance

Explanation:

Stakeholders theory is the theory of organizational management and business ethics that accounts for multiple constituencies impacted by business entities such as employees, local market, creditors, supplies and others. The stakeholders are on the lookout to ensure the firm performs maximally and would want the best decision in place. This is how they influence corporate governance

A large multinational corporation is looking to expand its business to different countries across the globe. Fast internet speeds are very important for the company’s potential customers to access their product and service offerings. Which country should the company target to offer its products and services?+

Answers

Answer:

South Korea or Singapore

Explanation:

South Korea as well as Singapore are known in the world with a technology that allows very fast internet speed and it will be easier for the company to get potential customer and make accessibility of their products to customer easier. Since the large multinational corporation is looking to expand its business to different countries across the globe.

Suppose nominal GDP in the base year was $380 million. Five years later, nominal GDP was $480 billion and the GDP price index was 120. Over those five years, real GDP: Group of answer choices increased by $80 billion

Answers

Answer: increased by $20 billion

Explanation:

Real GDP is year of interest is:

= (Nominal GDP in year of interest/ GDP Price index in year of interest) * 100

= 480/120 * 100

= $400 billion

Nominal GDP is equal to Real GDP in base year so increase in real GDP is:

= 400 - 380

= $20 billion

Why would researching the average earnings by major and by career be useful to you as you choose an institute for higher education

Answers

Answer:

For analysing return on amount invested in higher education

Explanation:

Investing in human capital formation component is important, as it contributes to higher income prospects for individual & higher economic growth for economy.

So, people research average earnings by major (the main expertise subject) & by associated career. As this helps in determining 'return on investment' in terms of income expected per unit cost spent, on higher education.

Brazil is one of the world’s lowest-cost producers of ethanol and soybeans. Japanese corporations have heavily invested in Brazil to lease large tracts of land to grow soybeans for export to Japan, where the soybeans are used to derive products such as soy sauce and chicken feed. Why do these Japanese companies invest in Brazil?

Answers

Answer: The Japanese companies invest in Brazil in order to cut cost.

Explanation:

Since Brazil is one of the world's lowest-cost producers of ethanol and soybeans. Japanese corporations investing heavily in Brazil to lease large tracts of land to grow soybeans for export to Japan, are doing this in order to minimize their cost.

Growing soyabeans in Brazil is cheaper since there's a lower cost of producing it when compared to the higher cost of producing it in Japan. This in turn, helps the Japanese companies reduce their cost as the cost of factor Input is reduced and also the Japanese companies can make more profit.

In evaluating shipping alternatives, organizations using a low-cost strategy often opt for _____ methods, while organizations using a responsive strategy more often opt for _____, higher-cost carriers.

Answers

Answer:

Slower, quicker

Explanation:

Shipping can be regarded as physical movement of goods from one location to another, example is this movement of merchandise from the warehouse to the customer. The shipping process comes after the manufacture of goods and packaging, low-cost strategy and

responsive strategy can be used for shipping alternative. It should be noted that In evaluating shipping alternatives, organizations using a low-cost strategy often opt for slower methods, while organizations using a responsive strategy more often opt for quicker, higher-cost carriers.

A municipal securities dealer has just made a contribution to the mayor's reelection campaign. How long must the firm wait before it can enter competitive bids on proposed bond issues by the city

Answers

Answer:

The appropriate answer is "No waiting period".

Explanation:

Terms of attitude method similar to a relationship, recognize, warrant, the identification card of ability to participate and perhaps other responsibility made available by such a governmental entity or about there departments. The phrase "municipal securities vendor" applies to any individual engaged throughout the business of auctioning municipal securities according to their consideration, across some kind of broker or anything else.

Your employer must offer (at no cost to you) a vaccine against ___________ if your job _____________.'

Answers

Answer:

hepatitis B; puts you at risk for exposure to bloodborne pathogens

Explanation:

Work practice controls involves all the steps taken in order to decrease the likelihood of getting exposed to any disease or viruses in the workplace. These steps include heath hygiene in vaccinations that are intended to protect the human resources. Hygiene management helps the employers to maintain their health during their workhours.  

In jobs where the employees are exposed to the bloodborne pathogens, it is the responsibility of the employer to vaccinate the employee against hepatitis B.

The Big Hotel Brand has instituted a coaching program. What are the likely results?


The expenses for coaching will be higher than that of other types of training, but it is worth it.

Managers will find coaching too time consuming in the long run.

Productivity will be diminished because employees work less.

The hotel will develop a deep bench of talent.

Answers

Answer:

The expenses for coaching will be higher than that of other types of training, but it is worth it.The hotel will develop a deep bench of talent.

Explanation:

The essence of coaching is to develop and support individuals to maximize their potential. In coaching, an more competent and experienced person, the coach, offers instructions and guidance that helps the learner unlock their abilities.  

Coaching empowers individuals by developing their soft and interpersonal skills. It prepares them for bigger responsibilities in an organization. Coaching is costly in terms of budgets and the time-off that employees and managers require for the activities. However, the benefits of more competent and efficient employees outweigh the costs.  Coaching ensures a company has a readily available pool of talents to take up higher positions or fill any vacancies should they emerge.

If your friend Raheem asks you, “What type of account should I use to save for retirement,” what would you tell him?

Answers

Answer:

Roth IRA account

Explanation:

The best type of account that you should save money in for Retirement is a Roth IRA account. This will allow you to put and save a maximum of $5,500 USD per year which will compound annually with interest and can be redeemed when you retire. Once you redeem your money at the age of 65 1/2 it will be completely tax-free. Meaning you have no liabilities with that money whatsoever and you can simply enjoy your retirement with that money.

Firms such as Sikorsky offer highly complex products such as helicopters to U.S. military. When the firm offers a complex range of products and customers have similar needs, a ________ salesforce is recommended.

Answers

Answer:

Product - market specialized sales force

Explanation:

In simple words, the product or market specialized sales force refers to the team of sales persons representing a company that offers a product that needs proper personal presentation to be given to the customers.

In such business, specific training are given to sales employees before letting them handle the sales force. Such sales representatives are considered to be experts with the answer for every question .

Hey MCU fans, 30 pts to the first person who can answer this question! What was Loki's last words TO THOR before he died? Just thought this would be fun :)

Answers

“I assure you, brother, the sun will shine on us again.”

True or false: An EAP only contains information on what happens during an emergency.

Answers

Pretty sure it’s false

A 15-year-old recently inherited a parcel of real estate and has decided to sell it. If the 15-year-old executes a deed conveying the property to a purchaser, such a conveyance would be

Answers

Answer:

Such a conveyance would be "Voidable".

Explanation:

It is indeed a descriptor traditionally used throughout particular regard of a service agreement that's also final and enforceable unless it has been managed to ignored or proclaimed void by such a term of the contract who's already straightforwardly exercised the means to eliminate treaty agreements. An invalid contract is a legally binding acceptance of the offer which may have been provided inapplicable for a series of regulatory justifications.

Word of mouth promotion is also known as what?

Answers

Answer:

Word-of-mouth advertising (WOM advertising), also called word of mouth marketing, is the process of actively influencing and encouraging organic word of mouth discussion about a brand, organization, resource, or event.

Explanation:

hope this helps, pls mark brainliest :D

Word-of-mouth advertising is another name for viral marketing.

What is Word-of-mouth promotion?

The technique of deliberately influencing and supporting organic word-of-mouth talk about a brand, organization, resource, or event is known as word-of-mouth advertising (WOM advertising), sometimes known as word-of-mouth marketing.

A corporation can reach new audiences and establish a solid brand reputation by using word-of-mouth marketing. Businesses can enhance profitability, draw in new clients, and strengthen their bonds with current consumers by utilizing this distinctive and natural kind of marketing.

The type of rewards utilized has a significant impact on the effectiveness of word-of-mouth marketing. The employment of incorrect incentives to encourage customers or representatives to spread good word of mouth about goods or brands can have negative effects on a business, according to research.

Learn more about Word-of-mouth marketing, from:

brainly.com/question/15472521

#SPJ6

Which of the following is usually true
about the demand of consumers who
make more money?
A. They demand less of lower quality products.
B. They demand more of lower quality products.
C. They demand the same amount of lower quality
products.

Answers

Answer:

A

Explanation:

One of the purposes of filing the annual updating amendment to the Form ADV Part 1A is to A) provide updated information on those associated persons who are in charge of giving investment advice B) ensure that full disclosure has been made in the adviser's brochure C) verify that the investment adviser still qualifies for SEC registration D) disclose the amount and location of securities or funds of clients that are being held by the adviser or a qualified custodian

Answers

Answer:

One of the purposes of filing the annual updating amendment to the Form ADV Part 1A is to

C) verify that the investment adviser still qualifies for SEC registration

Explanation:

Filing the annual Form ADV Part 1A gives the SEC and the state securities authorities information about the investment adviser's business, ownership, clients, employees, business practices, affiliations, and any disciplinary events of the adviser or its employees.  The form enables the SEC to register investment advisers and to obtain information from and about exempt reporting advisers.

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