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grin007 [14]
1 year ago
11

On December 1, 2020, Bramble Corporation incurs a 15-year $1300000 mortgage liability in conjunction with the acquisition of an

office building. This mortgage is payable in monthly installments of $15600, which include interest computed at the rate of 12% per year. The first monthly payment is made on December 31, 2020. The portion of the second monthly payment made on January 31, 2021, which represents repayment of principal is: $12974. $15600. $2626. $2600.
Business
1 answer:
weeeeeb [17]1 year ago
6 0

The portion of the second monthly payment made on January 31, 2021, which represents repayment of principal is $15600.

<h3>Mortgage liability </h3>

Mortgage liability limits the liability of potential third parties who were not involved when the mortgage was arranged. For example, if a mortgage is in arrears, the debtor has to pay the outstanding principal and interest, plus late payment and other charges.

<h3>What is mortgage asset or liabilities?</h3>

A current liability for

1) the principal payments that will be coming due within one year after the balance sheet date, and

2) any accrued interest that is owed as of the balance sheet date.

To learn more about current liability  visit the link

brainly.com/question/14287268

#SPJ4

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The scanner data collected by Frito-Lay is a form of ________ data.
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The answer is: Internal secondary data

Internal secondary data refers to the type of data that is acquired and stored inside the organization simply by doing its normal operation without having to pay any additional cost for the data.

When fritto lay obtain its data from scanners (that usually occurs for every purchase) , the data would automatically be stored in its database without interference from any third party.

6 0
3 years ago
Journalize the entries for the following transactions
Zanzabum

Answer and Explanation:

The journal entry is shown below:

a. Cash $116,300  

       To  Sales $116,300

(Being the merchandise is sold for cash is recorded)

Cost of Merchandise Sold $72,000  

     To Merchandise Inventory $72,000

(Being the cost of the merchandise is recorded)

b. Accounts Receivable $755,000  

    To  Sales $755,000

(Being the merchandise is sold on account is recorded)

Cost of Merchandise Sold $400,000  

         To Merchandise Inventory $400,000

(being the cost of the merchandise is recorded)

c. Cash $1,950,000  

      To Sales $1,950,000

(Being the merchandise is sold for cash is recorded)

Cost of Merchandise Sold $1,250,000  

    To Merchandise Inventory $1,250,000

(Being the cost of the merchandise is recorded)

d. Cash $330,000  

     Sales  $330,000

(Being the merchandise is sold for cash is recorded)

Cost of Merchandise Sold $230,000  

       To Merchandise Inventory $230,000

(Being the cost of the merchandise is recorded)

e. Credit Card Expense $81,500  

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(Being cash paid is recorded)

4 0
3 years ago
The process by which power is distributed and decisions are made is known as:
notsponge [240]
The answer is D because when u give power to other people for them to make decisions your offering transference. Your transferring decisions to others.<span />
3 0
3 years ago
Inflating your income to get a loan approved is:
Deffense [45]

Answer:

If you falsely inflate your income, decrease your rent/mortgage payment, claim to be employed when you aren't or neglect to report your entire debt load, you may be approved for more credit. This may sound tempting, especially if you're in financial straits, but it's illegal

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3 years ago
Brand X, which currently markets luxury watches via billboards and advertisements in popular magazines, is considering saving mo
yuradex [85]

Answer: the correct answer is (B) newly rich consumers will not buy the watches if the watches are not advertised to people who are not yet wealthy who will then hold the watches in high regard

Explanation:

The paragraph says that that most purchasers of Brand X's luxury watches have only recently become wealthy and buy this brand so the logical argument is to reach "recently become rich" to attain higher sales. Advertizing in the magazine mentioned is not guarantee that the "new rich" will buy more watches since we don't know if they read the magazine mentioned.

7 0
3 years ago
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