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URL:https://www.learndesk.us/class/6277468010840064/lesson/c5fadd98e40a711592e1e1521f7a5488?ref=outlook-calendar
SUMMARY:Interactive Exercises Unit 14: Pre-closing and Closing
DTSTART;TZID=America/Los_Angeles:20260527T190000
DTEND;TZID=America/Los_Angeles:20260527T200000
LOCATION:https://www.learndesk.us/class/6277468010840064/lesson/c5fadd98e40a711592e1e1521f7a5488?ref=outlook-calendar
DESCRIPTION: Case Problems: Prorations
Jeff and Michelle are buying a piece of investment property. The current tenant is paying $1,500 per month, and the current month's rent was paid on the 1st of the month. It is estimated that the property taxes on the property will run $2,750 this year. The day of closing is April 10th. According to the contract, the day of closing belongs to the buyer. Assume 30 days in April and a 365-day year. Case study scenario question
1. What is the proration for this month’s rent? 2. What is the proration for the property taxes? 3. Practice explaining the prorations to your buyer.
Case Debrief:
1. Rent Proration (Paid in Advance) $1,500 ÷ 30 days = $50 per day 21 buyer days (rent counts the days the buyer owns the property) 21 days x $50 rent per day = $1,050 Debit Seller $1,050, Credit Buyer $1,050 It is a debit to the seller because the seller has already received the rent and must pay (credit) the buyer for the days they own the apartment.
2....

https://www.learndesk.us/class/6277468010840064/lesson/c5fadd98e40a711592e1e1521f7a5488?ref=outlook-calendar
STATUS:CONFIRMED
SEQUENCE:3
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DESCRIPTION:Class Reminder
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