Answer: Sell their personal assets
Explanation: In the given case, James and Maria were the owners of a firm which has a partnership structure and not the company structure. As per the law, the owners and the firm in a partnership structure would not be considered as two separate legal entities.
In case of any default or liquidation , the personal assets of the owners of the firm could be taken into consideration for repayments of debt.
Hence Maria and Jamie can sell their assets to repay $37,500.
Answer: $2,890,426
Explanation:
= Cash received + Mortgage assumed - Points paid by Peyton - Broker's ,commission
= 1,867,200 + 1,120,320 - 22,406 - 74,688
= $2,890,426
Answer: Eating out at restaurants
Explanation: People often go out and eat in restaurants instead of cooking their food by themselves, which starts to dig into their savings account.
Answer:
$15,000
Explanation:
Calculation for the amount that should be report as goodwill
Fair Market Value of common stock issued for acquisition $400,000
(10,000 shares×$40 fair value)
Less Fair Market Value of Net Assets of Web $385,000
(ASSETS: Cash and receivables $60,000+ Inventory $175,000 +Patented technology (net) $200,000+ Land $225,000+Buildings and equipment (net)$ 75,000 - LIABILITIES $350,000)
GOODWILL $15,000
($400,000-$385,000)
Therefore the amount that should be report as goodwill will be $15,000
<span>B is the correct answer. Certificate of deposit is the certificate that you get when you deposit money for a specified time. You can't touch the money before the time you specified when you decided to deposit the money. You can withdraw the money, paying a price, a penalty for early withdrawal. That depends on the bank terms. Other options given on the question, are easily accessed by the owner.</span>
