You are buying an investment property. It is November 15th. You get the following information from...
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You are buying an investment property. It is November 15th. You get the following information from the seller: He says he gets rent of $1,400 per month. Collected rent to date shows to be $15,000. Property tax was $1,000 and Insurance is $1,200. Utilities expense is $1,020. Interest expense is $4,400. Payment is $900/month. Depreciation is $2,273. He replaced HVAC for $1,450.00. Maintenance expenses were $500.00 so far this year. (Used for 68-74). What is the Annual Effective Gross Income? $16,800.00 $15,000.00 $16,364.00 None of the above You are buying an investment property. It is November 15th. You get the following information from the seller: He says he gets rent of $1,400 per month. Collected rent to date shows to be $15,000. Property tax was $1,000 and Insurance is $1,200. Utilities expense is $1,020. Interest expense is $4,400. Payment is $900/month. Depreciation is $2,273. He replaced HVAC for $1,450.00. Maintenance expenses were $500.00 so far this year. (Used for 68-74). What is the Annual Effective Gross Income? $16,800.00 $15,000.00 $16,364.00 None of the above
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Related Book For
Financial Accounting
ISBN: 978-0078025549
3rd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
Posted Date:
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