Person T, a real estate broker, voluntarily went on and showed a townhouse to the couple named JS and JR. The owner of the townhouse was R and H. In the absence of T, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. There was a condition mentioned in the contract that the fees of the real estate broker would be paid in case someone bought the property. To find: Whether JS and JR are entitled to pay person T, even though she was not present to show the townhouse to the couple.

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I need help with this general accounting question using the proper accounting approach.

Answer 1

Question

Chapter 13, Problem 8BCP

(a)

Summary Introduction

Case summary: Person T, a real estate broker, voluntarily went on and showed a townhouse to the couple named JS and JR. The owner of the townhouse was R and H. In the absence of T, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. There was a condition mentioned in the contract that the fees of the real estate broker would be paid in case someone bought the property.

To find: Whether JS and JR are entitled to pay person T, even though she was not present to show the townhouse to the couple.

Summary Introduction

Case summary: Person T, a real estate broker voluntarily, went on and showed a townhouse to the couple named JS and JR. The owner of the townhouse was R and H. In the absence of T, due to some religious belief, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. A condition was mentioned in the contract which clearly stated that the fees of the real estate broker would be paid by the buyer.

To find: The obligation of the parties involved in the business deals.

Summary Introduction

Case summary: Person T, a real estate broker, voluntarily went on and showed a townhouse to a couple named JS and JR. The owner of the townhouse was R and H. In the absence of T due to some religious belief, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. A condition was mentioned in the contract which clearly stated that the fees of the real estate broker would be paid by the buyer.

To find: The ways in which this situation could have been avoided.

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Answer 2

Question

Chapter 13, Problem 8BCP

(a)

Summary Introduction

Case summary: Person T, a real estate broker, voluntarily went on and showed a townhouse to the couple named JS and JR. The owner of the townhouse was R and H. In the absence of T, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. There was a condition mentioned in the contract that the fees of the real estate broker would be paid in case someone bought the property.

To find: Whether JS and JR are entitled to pay person T, even though she was not present to show the townhouse to the couple.

Summary Introduction

Case summary: Person T, a real estate broker voluntarily, went on and showed a townhouse to the couple named JS and JR. The owner of the townhouse was R and H. In the absence of T, due to some religious belief, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. A condition was mentioned in the contract which clearly stated that the fees of the real estate broker would be paid by the buyer.

To find: The obligation of the parties involved in the business deals.

Summary Introduction

Case summary: Person T, a real estate broker, voluntarily went on and showed a townhouse to a couple named JS and JR. The owner of the townhouse was R and H. In the absence of T due to some religious belief, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. A condition was mentioned in the contract which clearly stated that the fees of the real estate broker would be paid by the buyer.

To find: The ways in which this situation could have been avoided.

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Answer 3

Question

Chapter 13, Problem 8BCP

(a)

Summary Introduction

Case summary: Person T, a real estate broker, voluntarily went on and showed a townhouse to the couple named JS and JR. The owner of the townhouse was R and H. In the absence of T, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. There was a condition mentioned in the contract that the fees of the real estate broker would be paid in case someone bought the property.

To find: Whether JS and JR are entitled to pay person T, even though she was not present to show the townhouse to the couple.

Summary Introduction

Case summary: Person T, a real estate broker voluntarily, went on and showed a townhouse to the couple named JS and JR. The owner of the townhouse was R and H. In the absence of T, due to some religious belief, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. A condition was mentioned in the contract which clearly stated that the fees of the real estate broker would be paid by the buyer.

To find: The obligation of the parties involved in the business deals.

Summary Introduction

Case summary: Person T, a real estate broker, voluntarily went on and showed a townhouse to a couple named JS and JR. The owner of the townhouse was R and H. In the absence of T due to some religious belief, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. A condition was mentioned in the contract which clearly stated that the fees of the real estate broker would be paid by the buyer.

To find: The ways in which this situation could have been avoided.

Expert Solution & Answer

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Answer 4

Question

Chapter 13, Problem 8BCP

(a)

Summary Introduction

Case summary: Person T, a real estate broker, voluntarily went on and showed a townhouse to the couple named JS and JR. The owner of the townhouse was R and H. In the absence of T, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. There was a condition mentioned in the contract that the fees of the real estate broker would be paid in case someone bought the property.

To find: Whether JS and JR are entitled to pay person T, even though she was not present to show the townhouse to the couple.

Summary Introduction

Case summary: Person T, a real estate broker voluntarily, went on and showed a townhouse to the couple named JS and JR. The owner of the townhouse was R and H. In the absence of T, due to some religious belief, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. A condition was mentioned in the contract which clearly stated that the fees of the real estate broker would be paid by the buyer.

To find: The obligation of the parties involved in the business deals.

Summary Introduction

Case summary: Person T, a real estate broker, voluntarily went on and showed a townhouse to a couple named JS and JR. The owner of the townhouse was R and H. In the absence of T due to some religious belief, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. A condition was mentioned in the contract which clearly stated that the fees of the real estate broker would be paid by the buyer.

To find: The ways in which this situation could have been avoided.

Expert Solution & Answer

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Answer 5

Chapter 13, Problem 8BCP

(a)

Summary Introduction

Case summary: Person T, a real estate broker, voluntarily went on and showed a townhouse to the couple named JS and JR. The owner of the townhouse was R and H. In the absence of T, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. There was a condition mentioned in the contract that the fees of the real estate broker would be paid in case someone bought the property.

To find: Whether JS and JR are entitled to pay person T, even though she was not present to show the townhouse to the couple.

Summary Introduction

Case summary: Person T, a real estate broker voluntarily, went on and showed a townhouse to the couple named JS and JR. The owner of the townhouse was R and H. In the absence of T, due to some religious belief, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. A condition was mentioned in the contract which clearly stated that the fees of the real estate broker would be paid by the buyer.

To find: The obligation of the parties involved in the business deals.

Summary Introduction

Case summary: Person T, a real estate broker, voluntarily went on and showed a townhouse to a couple named JS and JR. The owner of the townhouse was R and H. In the absence of T due to some religious belief, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. A condition was mentioned in the contract which clearly stated that the fees of the real estate broker would be paid by the buyer.

To find: The ways in which this situation could have been avoided.

Answer 6

Chapter 13, Problem 8BCP

(a)

Summary Introduction

Case summary: Person T, a real estate broker, voluntarily went on and showed a townhouse to the couple named JS and JR. The owner of the townhouse was R and H. In the absence of T, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. There was a condition mentioned in the contract that the fees of the real estate broker would be paid in case someone bought the property.

To find: Whether JS and JR are entitled to pay person T, even though she was not present to show the townhouse to the couple.

Answer 7

Chapter 13, Problem 8BCP

(a)

Summary Introduction

Case summary: Person T, a real estate broker, voluntarily went on and showed a townhouse to the couple named JS and JR. The owner of the townhouse was R and H. In the absence of T, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. There was a condition mentioned in the contract that the fees of the real estate broker would be paid in case someone bought the property.

To find: Whether JS and JR are entitled to pay person T, even though she was not present to show the townhouse to the couple.

Answer 8

Summary Introduction

Case summary: Person T, a real estate broker voluntarily, went on and showed a townhouse to the couple named JS and JR. The owner of the townhouse was R and H. In the absence of T, due to some religious belief, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. A condition was mentioned in the contract which clearly stated that the fees of the real estate broker would be paid by the buyer.

To find: The obligation of the parties involved in the business deals.

Answer 9

Summary Introduction

Case summary: Person T, a real estate broker voluntarily, went on and showed a townhouse to the couple named JS and JR. The owner of the townhouse was R and H. In the absence of T, due to some religious belief, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. A condition was mentioned in the contract which clearly stated that the fees of the real estate broker would be paid by the buyer.

To find: The obligation of the parties involved in the business deals.

Answer 10

Summary Introduction

Case summary: Person T, a real estate broker, voluntarily went on and showed a townhouse to a couple named JS and JR. The owner of the townhouse was R and H. In the absence of T due to some religious belief, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. A condition was mentioned in the contract which clearly stated that the fees of the real estate broker would be paid by the buyer.

To find: The ways in which this situation could have been avoided.

Answer 11

Summary Introduction

Case summary: Person T, a real estate broker, voluntarily went on and showed a townhouse to a couple named JS and JR. The owner of the townhouse was R and H. In the absence of T due to some religious belief, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. A condition was mentioned in the contract which clearly stated that the fees of the real estate broker would be paid by the buyer.

To find: The ways in which this situation could have been avoided.

Answer 12

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Answer 13

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Answer 23

Ch. 13 - Prob. 1RE Ch. 13 - Prob. 2RE Ch. 13 - Prob. 3RE Ch. 13 - Prob. 4RE Ch. 13 - Prob. 1IS Ch. 13 - Prob. 2IS Ch. 13 - Prob. 1BS Ch. 13 - Prob. 2BS Ch. 13 - Prob. 3BCP Ch. 13 - Prob. 4BCP

Solution Summary: The author explains that person T showed a townhouse to the couple named JS and JR. The contract states that the buyer is liable for paying the fees of the real estate broker.

Chapter 13 Solutions