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2 years ago

The listing agreement in which a broker is entitled to a commission no matter who sells the property is known as

1 answer:

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There are several listing agreements when dealing with the sale of a real estate property. The most common type is the exclusive right to sell agreement. This type of agreement makes sure that the listing broker is paid a commission no matter who sell the property.

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Novak Corp. issued 2,000 8%, 9-year, $1,000 bonds dated January 1, 2022, at face value. Interest is paid each January 1.

miv72 [106K]

Answer:

Part B.

Dr Interest expense ($2,000,000 * 8%) $160,000

Cr Interest payable $160,000

Part C.

Dr Interest payable $160,000

Cr Cash $160,000

Explanation:

Part A.

On Jan 1, 2022, the bond issued would be recorded as under:

Dr Cash (2000 bonds * $1000 par value) $2,000,000

Cr Bonds payables $2,000,000

Part B.

On Dec 31, 2022, the interest accrued would be recorded as under:

Dr Interest expense ($2,000,000 * 8%) $160,000

Cr Interest payable $160,000

Part C.

On Jan 1, 2023, the payment of the interest would be recorded as under:

Dr Interest payable $160,000

Cr Cash $160,000

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2 years ago

Kate has a 20-square-foot plot of land in her backyard that she uses to grow tomatoes and lettuce. Every square foot of land can

larisa86 [58]

Answer:

a) Kate will produce 100 tomatoes and 0 heads of lettuce.

b) Jim will produce 0 tomatoes and 180 heads of lettuce.

Explanation:

As climatic conditions are better for tomatoes at Kate's plot of land, she should choose to grow those because of better quality. Also, production of lettuce per square-foot is lower at Kate's land compared to Jim's (3 heads vs 6 heads of lettuce). So on 20-squire-foot Kate could produce 60 heads and Jim - 120 heads of lettuce (2x more). So Kate should avoid production of lettuce due to quality and quantity.

Same explanation can be applied to Jim's production of tomatoes. If Jim produce tomatoes, he will only have quantity of 60 tomatoes at 20-square-foot plot, compare to Kate's 100 tomatoes. So he should avoid production of tomatoes.

4 0

2 years ago

Read 2 more answers

Xion Co. budgets a selling price of $80 per unit, variable costs of $35 per unit, and total fixed costs of $270,000. During June

nika2105 [10]

Answer and Explanation:

The preparation of flexible budget report is shown below:-

Xion CO.

Flexible budget report

Flexible budget Actual results Variances Favorable/

Unfavorable

Sales $864,000 $885,000 $21,000 Favorable

(10,800 × $80)

(-) Variable

cost $378,000 $351,000 $27,000 Favorable

(10,800 × $35)

Contribution $486,000 $534,000 $48,000 Favorable

(-) Fixed cost $270,000 $285,000 $15,000 Unfavorable

Net income $216,000 $249,000 $33,000 Favorable

8 0

2 years ago

An institutional broker wants to review their book of customers to see which are most active. Given a list of trades by customer

bixtya [17]

Answer:

Alpha

Beta

Delta

Epsilon

Zeta

Explanation:

The customers list should be updated and sorted periodically to identify regular customers and those customers with big orders. There are many customers in the list and the list is not sorted according to alphabetical order. Those customers which account for more than or at least 5% of total trade are Alpha, Beta, Delta, Epsilon and Zeta. These are place first in list among other customers.

8 0

2 years ago

A beneficiary acquired stock from a decedent. The stock's fair market value at the date of the decedent's death was $500,000. Th

Ivanshal [37]

Answer:

Beneficiary recognized gain is $510000.

Explanation:

The amount paid by the decedent for the stock = $280000

The market value of the stock at the time of death = $500000

The selling price or the amount received by the beneficiary by the sell of stock = $510000

Since the recognized gain is calculated by subtracting the amount paid by the person to buy the stock from the amount that he receives from the sale of stock. But in this case, the beneficiary pays zero for the stock but gets all the money after selling.

Beneficiary recognized gain = amount received from the sell – the amount paid by the beneficiary.

= $510000 – 0

= $510000

7 0

2 years ago