Business, 14.12.2019 00:31 Emptypockets451
To buy a house, an investor secured a $10,000 mortgage from a bank. the bank promptly and properly recorded its mortgage. subsequently, the investor financed certain improvements to the house with a $2,000 mortgage on the land from a finance company. the finance company promptly and properly recorded its mortgage. before the investor made a payment on either mortgage, the federal government announced that it would begin storing nuclear waste products in the area. the value of property, including the investor's house, plummeted. the investor did not pay either the bank or the finance company, and the bank brought a proper action to foreclose, notifying both the investor and the finance company. a buyer bought the house at the foreclosure sale for $6,000, which was its fair market value. there are no special statutes in the jurisdiction regarding deficiency judgments. what does the investor owe? response - correcta $5,000 to the bank and $1,000 to the finance company. b $4,000 to the bank and $2,000 to the finance company. c nothing to the bank and $2,000 to the finance company. d $4,000 to the bank and nothing to the finance company
Answers: 2
Business, 21.06.2019 16:40
Dollywood corporation accumulates the following data concerning a mixed cost, using miles as the activity level. miles driven total cost january 10,000 $16,500 february 8,000 $14,500 march 9,000 $12,500 april 7,000 $12,000 compute the variable and fixed cost elements using the high-low method
Answers: 3
Business, 22.06.2019 19:10
Below are the steps in the measurement process of external transactions. arrange them from first (1) to last (6). event step post transactions to the general ledger. assess whether the transaction results in a debit or credit to account balances. use source documents to identify accounts affected by an external transaction. analyze the impact of the transaction on the accounting equation. prepare a trial balance. record the transaction in a journal using debits and credits.
Answers: 3
Business, 23.06.2019 01:40
During a liquidation, a partner's capital account balance drops below zero. what should happen? select one: a. the deficit balance should be removed from the accounting records with only the remaining partners sharing in future gains and losses.b. the partner with a deficit should contribute enough assets to offset the deficit balance if he is solvent.c. the other partners should contribute enough assets to offset the amount of deficit if the partner with a deficit is insolvent.d. both b & c
Answers: 3
To buy a house, an investor secured a $10,000 mortgage from a bank. the bank promptly and properly r...
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