A buyer will receive a water bill for an estimated $30 at theend of the...

A buyer will receive a water bill for an estimated $30 at the end of the month. At closing, the seller has used an estimated $24 of the water. What should appear on the closing statement?

A) Credit the buyer for $24, debit the seller for $24
B) Credit the buyer for $6, debit the seller for $24
C) Credit the seller for $6, debit the buyer for $24
D) Credit the seller for $6, debit the buyer for $6

Expert Solution

A buyer will receive a water bill for an estimated $30 at the end of the month. At closing, the seller has used an estimated $24 of the water. What should appear on the closing statement?

The buyer will be credited and the seller will be debited. The amount will be equal to the actual usage.

Buyer is required to pay to the Seller.

Seller will receive the amount thus debit.

Option A. Credit the buyer for $24, debit the seller for $24

Rahul Sunny answered 2 years ago

Bill is considering acquiring a ship that costs $40,000. It is estimated that the ship will...

Bill is considering acquiring a ship that costs $40,000. It is estimated that the ship will generate additional revenues of $20,000 per year for 5 years. The ship will be depreciated over 5 years utilizing the straight line method. Bill faces a 28% average income tax rate and an 8% minimum acceptable return on all investments. 1. Compute the annual additional revenues after-tax. Show your work. 2. Compute the annual depreciation expense. Show your work. 3. Compute the tax savings...

Bill and Fernando continued testing. Bill told Fernando about the water collection, the hailstorm, and the neighbor’s garden.

Part III: More Results Bill and Fernando continued testing. Bill told Fernando about the water collection, the hailstorm, and the neighbor’s garden. Fernando thought about this, and wondered aloud, “You said the neighbor’s garden was put in late. I wonder if they might have sprayed an herbicide to kill the weeds before planting. If they did, this might explain why your grandparents’ garden is dying, particularly the plants on one side.” So they set out testing for herbicides in...

BJT Corporation is owned 40 percent by Bill, 30 percent by Jack, and 30 percent by...

BJT Corporation is owned 40 percent by Bill, 30 percent by Jack, and 30 percent by the Trumpet Partnership. Bill and Jack are father and son. Jack has a 10 percent interest in Trumpet Partnership. What is Jack’s total direct and constructive ownership of BJT Corporation under Section 267? a.30 percent. b.100 percent. c.73 percent. d.70 percent. e.33 percent.

2. Sharon Smith will receive $1 million in 30 years. As an alternative, she can receive...

2. Sharon Smith will receive $1 million in 30 years. As an alternative, she can receive $90,000 today. If we use a discount rate of 8%, which should she choose? 3. Yesterday Google issued 20 Year bonds with a 5% Interest Rate/Coupon when the required rate of return or yield to maturity was 5%. Today, investors are requiring an 8% return or yield to maturity. What will be the new market price of the bond?

During this role- play, Michael Smith is meeting with you regarding the bill he receive in...

During this role- play, Michael Smith is meeting with you regarding the bill he receive in the mail. when he called to make the appointment, he was very concerned because he just was laid off and isn't sure how he will pay the bill. You check his record and see that he met his deductible and now needs to pay 30% of the billed amount. he owes $210. as a medical assistant explain how deductible works

You have been a patient in a hospital. After you recover you receive a bill which...

You have been a patient in a hospital. After you recover you receive a bill which you feel has excessive charges. Write a one-page essay describing how you would make use of a hospital Ombuds to seek an adjustment of the charges.

It is estimated that in a school 35% of the pupils play an instrument, 30% of...

It is estimated that in a school 35% of the pupils play an instrument, 30% of the pupils attend the school Art club and 10% of the pupils do both, play an instrument and attend the school Art club. Every pupil chooses which activity to do independently of other pupils. We randomly choose 10 pupils from the school and record for each pupil whether they play an instrument and/or attend the school Art club. (a) Describe an appropriate sample space....

a. Jovad Company ships merchandise to Martin Company on December 30. The merchandise reaches the buyer...

a. Jovad Company ships merchandise to Martin Company on December 30. The merchandise reaches the buyer on January 6. indicate the terms of sale that will result in the goods being included in (1) Jovad's December 31 inventory, and (2) Martin's December 31 inventory. b. Under what circumstances should Jovad Company included consigned goods in its inventory?

in a certain city, the monthly water bill amount is normally distributed with mean 25 and...

in a certain city, the monthly water bill amount is normally distributed with mean 25 and standard deviation 15. A sample of 36 bills was selected. What is the probability that the average water bill amount for the sample was between 26.7 and 30? round your answer to 4 decimal places. Do not write as percentage.

It is estimated that an average of 30 customers will arrive at an Airport check-in counters...

It is estimated that an average of 30 customers will arrive at an Airport check-in counters per hour. a) Let X be the number of customers arrive at the counter over three hours. What is the distribution of X? b) Let X be the number of customers arrive at the counter over three hours. How many customers would you expect in three hours? c)What is the probability of 3 customers arriving within 10 mins? State the appropriate distribution and any...

Question