Answer:
c.
Explanation:
Based on the information provided within the question it can be said that in order for it to be enforceable, a writing is required for the employment agreement. This is because the employment requires initial work for a month before receiving payment for the services provided. Unlike the other two purchases, since money is being exchanged directly for a product or service at the exact moment.
Answer:
C) Factoring
Explanation:
In factoring, the Companies shall sell the accounts receivables to Tobit Financing at a discounted rate when they are apprehensive about receiving the same from their debtors in time. Once received by Tobit Financing, it shall recover the dues from those accounts at the full rate. The difference shall be the earning of Tobit Financing. This may also be true when such Companies are in urgent need of cash and this option seems to be the most viable.
Solution :
Tarrant Corporations
First of all let us prepare the Journal Entries
1. Cash (7000 x 38) 266,000
Common stock (7000 x 19) 133,000
Paid in capital in excess of stated value
common stock (7000 x 19) 133,000
2. Cash (2600 x 43) 111,800
common stock (2600 x 19) 49400
Paid in capital in excess of stated value
Common stock (2600 x 24) 62400
3. Income summary 7000
Retained earing 7000
Tarrant corporation
Balance sheet - shareholder's section
Share holder's equity
Contributed capital
$ 19 par, issued and outstanding 9600 shares = 182400
Paid in capital in excess of par 196800
Total contributed capital 379200
Retained earnings 7200
Total shareholder's equity 372,000
Answer:
Local government has the most influence on real estate markets. It affects the supply and cost of real estate through zoning and land use regulations, fees on new land development, and restrictive building codes.
Answer:
a. Assuming that fixed payments are to be made monthly for three years and that the loan is fully amortizing, what will be the monthly payments? What will be the loan balance after three years?
- monthly payment = $997.95
- principal balance after 36th payment = $145,090.59
b. What would new payments be beginning in year 4 if the interest rate fell to 6 percent and the loan continued to be fully amortizing?
- monthly payment = $905.34
c. In (a) what would monthly payments be during year 1 if they were interest only? What would payments be beginning in year 4 if interest rates fell to 6 percent and the loan became fully amortizing?
a. $875
b. $935.98
Explanation:
A 3/1 adjustable rate mortgage is a 30 year mortgage where the interest rate is fixed for the first 3 years, and then it can vary.
I prepared an amortization schedule that shows the first 3 payments with a 7% interest rate and then the rest of the payments will carry a 6% interest rate.
The monthly payment for the first 36 months is $997.95 (principal balance after 36th payment $145,090.59), then it decreases to $905.34 per month.
See amortization schedule 1
if the monthly payments only covered interest expenses during the first 3 years, they would be $150,000 x 7%/12 = $875
then the monthly payments would be $935.98.
See amortization schedule 2
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