All categories

2 years ago

What is a mortgage? what were the important developments in the mortgage market during the years after 1970?

1 answer:

4 0

A mortgage is a that type of loan which is used to purchase or maintain any home or land or other types of real estate.

The borrower always agrees to pay the lender an amount over time, generally in a series of regular payments which are divided into principal and interest. The property is then served as collateral to secure the loan.

The history of mortgages in the United States was very turbulent. Market disruptions which arose from the Great Depression lead to the creation of government institutions which backed the mortgages.

The Home owners loan corporation, the federal national mortgage association and The federal housing administration were some of the institutions which were formed as government institutions.

To know more about mortgage here:

brainly.com/question/15074748

#SPJ4

You might be interested in

Tami Strand’s regular hourly wage rate is $10, and she receives an hourly rate of $20 for work in excess of 40 hours. During a J

valentina_108 [34]

Answer:

wages expense 600.00 debit

wages income tax payable 88.00 credit

FICA tax payable 45.90 credit

wages payable 466.10 credit

--to record accrued wages for Tami Strand's--

wages payable 466.10 debit

cash 466.10 credit

--to record payment to Tami Strand's--

Explanation:

Tami wages for the week:

40 hours x $10 rate = 400 dollars

10 hours x $20 rate = 200 dollars

total wages for the week 600 dollars

FICA tax: 600 x 7.65% = 45.9

gross pay 600.00 dollars

income tax witholding 88.00 dollars

FICA tax 45.90 dollars

net pay: 466.10 dollars

6 0

3 years ago

Because the Rubber Division sustained a loss, Vanikoro is considering the elimination of this division. All of the division's tr

Anna11 [10]

Answer:

Decrease in Net operating income ($30,000)

Explanation:

The computation of the change in net operating income is shown below:

Particulars Rubber Division

Lost of Contribution margin ($100,000)

Savings from avoidable fixed costs :

Traceable fixed costs $70,000

Decrease in Net operating income ($30,000)

We simply deduct the traceable fixed cost from the loss of contribution margin so that the change in net operating income could come

7 0

3 years ago

1) Prepare an ending 2015 Income Statement and Balance Sheet from the following information: Sales $800,000; Cost of Goods Sold

anygoal [31]

Answer:

Ending retained earning for 2015 = $345,000

Total Assets = $645,000

Shareholder's equity = $445,000

Total liabilities = $200,000

Explanation:

a. Income Statement for the year ended 2015

Details $

Sales 800,000

Cost of Goods Sold 300,000

Gross profit 500,000

Advertising Expense (1,000)

Administrative Expenses (35,000)

Depreciation Expense (40,000)

Rent Expense (5,000)

Operating income 419,000

Interest Expense (24,000)

Income before tax 395,000

Taxation (40% * $395,000) (158,000)

Net income 237,000

Dividend paid (137,000)

Retained earning for the year 100,000

Beginning retained earning 245,000

Ending retained earning 345,000

a. Balance sheet as at the year ended 2015

Details $ $ 

Assets:

Beginning Net Fixed Assets 600,000

Depreciation 40,000

Ending Net Fixed Assets 560,000

Current Assets:

Cash 20,000

Accounts Receivables 20,000

Inventory 45,000

Total Assets 645,000

Shareholder's Fund:

Common Stock 100,000

Ending retained earning 345,000

Shareholder's equity 445,000

Bonds Outstanding 160,000

Accounts Payable 20,000

Accruals 20,000

Total liabilities 200,000

Total equities and Liabilities  645,000

8 0

3 years ago

In which type of career would you expect to spend a great deal of time backing up computer files?

agasfer [191]

Answer:

BTS BTS BTS Po 1.A 2. c 3. k 4.mha

4 0

2 years ago

Read 2 more answers

Bodin Company budgets on an annual basis. The following beginning and ending inventory levels (in units) are plannned for the ye

Maksim231197 [3]

Answer and Explanation:

The computation is shown below:

1. The number of units to be manufactured during the year is

= Selling units + ending finished goods - opening finished goods

= 476,000 units + 75,000 units - 92,000 units

= 459,000 units

2. The raw material purchased amount is

= (508,000 × 5) + 49,000 - 42,000

= $2,547,000

The same would be relevant

3 0

3 years ago