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DENIUS [597]
2 years ago
14

A borrower expresses concern that once he signs all the documents he will be stuck with a second mortgage. a good response by a

notary signing agent could be to
Business
1 answer:
Temka [501]2 years ago
8 0

Good response by a notary signing agent could be to "A Notary Signing Agent could do well to respond by giving the Borrower the Lender's contact details and recommending that he make an instant phone call to the Lender before proceeding with the Signing." This is further explained below.

<h3>What is Borrower?</h3>

Generally, The act of temporarily retaining another person's property with the goal of restoring it to its rightful owner.

In conclusion, A borrower worries that he will be "trapped" with a second mortgage if he signs all the paperwork required to get one. A Notary Signing Agent could do well to respond by giving the Borrower the Lender's contact details and recommending that he make an instant phone call to the Lender before proceeding with the Signing.

Read more about Borrow

brainly.com/question/17619427

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Bavarian Bar and Grill opened for business in November 2021. During its first two months of operation, the restaurant sold gift
lions [1.4K]

Answer:

A. Dr Cash 5,200

Cr Deferred revenue 5,200

Dr Cash 884

Dr Deferred revenue 1,300

Cr Sales revenue 2,100

Cr Sales taxes payable 84

B. $3,900

C. Sales tax liability - CURRENT $84

Sales taxes payable (4% × $2,100) = $84

Sales tax liability - NON CURRENT $0

Liability gift certificates - CURRENT $2,860

Liability gift certificates – NON CURRENT $1,040

Explanation:

A. Preparation of the appropriate journal entries (in summary form) for the gift certificates sold during 2011

Dr Cash 5,200

Cr Deferred revenue 5,200

Dr Cash 884

($2,100 + $84 – $1,300)

Dr Deferred revenue 1,300

Cr Sales revenue 2,100

Cr Sales taxes payable 84

(4% × $2,100)

B. Calculation to Determine the liability for gift certificates to be reported on the December 31, 2018, balancesheet.

Liability for gift certificates=(5,200- 1,300)

Liability for gift certificates= $3,900

Therefore the liability for gift certificates to be reported on the December 31, 2018, balancesheet will be $3,900

C. Calculation for the appropriate amount for each classification (current or noncurrent) of the liabilities at December 31, 2018

Sales tax liability - CURRENT $84

(4% × $2,100=$84)

Sales tax liability - NON CURRENT $0

Liability gift certificates - CURRENT $2,860

Liability gift certificates – NON CURRENT $1,040

($5,200 × 20%=1,040 )

Calculation for Liability gift certificates at December 31

Estimated current liability$ 4,160

($ 5,200 × 80%)

Less Gift certificates redeemed(1,300)

Current liability at December 31 $2,860

8 0
2 years ago
When the cost method is used to account for an investment, the carrying value of the investment is affected by a.the earnings an
Dmitrij [34]
Dividends of the invested
6 0
3 years ago
Allison invested $23,000 in an account paying an interest rate of 6.7% compounded annually. Assuming no deposits or withdrawals
Vadim26 [7]

Answer:

18 years

Explanation:

Given that;

P= $23,000

A= $76,300

r= 6.7%

From

A = P(1 + r/100)^n

76,300 = 23,000 (1 + 0.067)^n

3.3 = (1.067)^n

Taking logarithm of both sides

log 3.3 = log (1.067)^n

log 3.3 = nlog(1.067)

n= log 3.3/log 1.067

n= 0.5185/0.0282

n= 18 years ( to the nearest year)

8 0
3 years ago
Sandra williams is single. she itemized deductions in 2014. she plans to itemize for 2015. in order for her plan to itemize dedu
Bess [88]
The answer is $6200.00

Based on https://taxfoundation.org/2014-tax-brackets/

The standard deduction single based on the source is $6200. Tax exemptions for singles are up to $52,800. The threshold on this tax is an annual salary of $254,200. Higher salaries would have higher tax deductions. Once a single tax holder enters $376,700 the person would no longer be included for higher exemption because of the gross compensation increase.
3 0
2 years ago
McKinney Corporation had beginning retained earnings of $2,242,000 and ending retained earnings of $2,499,000. During the year t
miv72 [106K]

Answer:

Net income for the year = $257,000

Explanation:

Retained earnings for the year= Net income - dividends paid.

Since no dividends were paid, retained earnings for the year = net income for the year. At the end of each accounting period, retained earnings are reported on the balance sheet, and the retained profits for the year are added to the beginning balance of retained earnings, to give a cumulative ending balance of  $2,499,000.

therefore retained earnings for the year = ending retained earnings balance  - beginning retained earnings balance = $2,499,000.-$2,242,000= $257,000.

Net income for the year is  thus =  $257,000 since no dividends were paid.

6 0
3 years ago
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