Which piece of information would you find on an income statement?

California real estate licensee carmen has an mlo endorsement on her license. which of these actions is she required to take?

a_sh-v [17]

She is required to include her MLO unique identification number on her business cards. Carmen is required by the law governing mortgage loan originators to include her distinctive identification on her business cards, but, not on real estate signage.

The first step in obtaining a mortgage is to speak with a loan originator, often known as a mortgage loan originator (MLO). An MLO's initial task is to convince you that working with them is your best alternative for borrowing money. The second is to direct you toward the settlement table. A loan originator is mostly a salesperson and just secondarily a loan approval chaperone.

The MLO, the borrowers, the processors, underwriters, and closers are all focused on the same successful end since mortgage loan approval is a team sport. Managing the team is the responsibility of the Loan Originator or MLO.

To know more about MLO refer here:

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8 0

1 year ago

Lake Power Sports sells jet skis and other powered recreational equipment. Customers pay 1/3 of the sales price of a jet ski whe

vladimir1956 [14]

Answer:

1) In 2010, Lake would recognize realized gross profit of:______.

a) $0.

Revenue for calculating gross profit is only recognized when the cost of goods sold (COGS) has been fully recovered.

2) In 2012, Lake would recognize a realized gross profit of:_______.

c) $450,000.

gross profit related to 2010 sales = $900,000 - $450,000 (remaining COGS) = $450,000

gross profit related to 2011 sales = $900,000 - $900,000 = $0

3) In 2013, Lake would record a lost on repossessions of:______.

c) $200,000.

4) In its December 31, 2011, balance sheet, Lake would report:_______.

b) installment receivables (net) of $900,000.

total installments receivables = $300,000 + $1,000,000 = $1,300,000

remaining COGS from 2011 sales = $400,000

installment receivables (net) = $1,300,000 - $400,000 = $900,000

7 0

3 years ago

Madison has graduated with her B.A in performing arts; she is still living with her parents.Madison's long-term goal is to becom

lyudmila [28]

Answer:

a. Opportunity #1

Explanation:

Opportunity #1 is best suited to Madison according to her preference. She has goal to become an actor in the long term. In the opportunity #1 she can take roles at community theater. This will enhance her skills and add up to her experience. She can learn from her experience at the theater and broaden her acting experience. She can also network with the peers in the theater and she can learn from them also.

5 0

3 years ago

Direct-mail questionnaires should be kept to a maximum of how many pages? A.One B.Two C.Three D.Four

Inga [223]

Answer:

One page

Explanation:

Direct mail questionnaires should be kept to a maximum of a single page.

This is because the target audience of these mails which are the respondents will treat this like they treat regular mails and my not be disposed to answering or giving responses.

So an increased number of pages would surely further decrease the attention the questionnaire would receive from these respondents.

Thus, it is best that the questionnaire is restricted to a single page.

4 0

3 years ago

On July 15, 2015, Coolidge Company paid its 30-day, 10 percent, $600 note payable to Ross Company. Prepare the July 15 journal e

steposvetlana [31]

Answer:

Dr Notes Payable account 600

Dr Interest Expense account 5

Cr Cash account 605

Explanation:

The total interest due = $600 x 10% x 1/12 =$5

Notes payable is a liability account and it decreases, so it should be debited.

All expenses are debited.

Cash is an asset account and it decreases, so it should be credited.

3 0

2 years ago