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A couple decided to sell their house in Washington, D.C., without the aid of a real estate broker. Their asking price was $225,000, which they believed was about $15,000 less than the price they would need to list the property with a broker. They realized they would probably have to accept an offer as low as $220,000. Another couple looked at the house, liked it, and offered to buy it for $223,500. The sellers were delighted and suggested that they would fill in the blanks on a form sales contract used by many of the local real estate brokerage firms, and both parties could sign it. The buyers, however, objected, saying they preferred to write their own contract. The wife was an attorney who worked for the U.S. State Department, specializing in international law.
What advice would you have given the sellers?
Pinson Corporation was organized on January 1, 2010. It is authorized to issue 20,000 shares of 6%, $50 par value preferred stock and 500,000 shares of no-par common stock with a stated value of $1 per share. The following stock transactions were ..
Orchard"s net income for the year ended December 31 was $50,000. The yearly preferred dividend was declared. No capital stock transactions occurred. What was the price earnings ratio on Orchard"s common stock at December 31?
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Sales Returns and Allowances $3,000; Freight-out $1,000; and Purchase Returns and Allowances $2,000.The ending merchandise inventory is $25,000. Prepare a cost of goods sold section for the year ending August 31 (periodic inventory).
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Pizza Restaurant has the following revenue and Cost Functions: Find out break-even output. Find out quantity.
Sarah owns 100 shares of Drake,Inc. (adjusted basis of $50,000). On October 11, 2010, she sells the 100 shares for their fair market value of $45,000. On November 5, 2110, she purchases 125 shares of Drake stock for $57,000. a) What is Sarah's rea..
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