Answer:
Promissory agreement and Deed of trust.
Explanation:
In this scenario, Seller Dayne was made aware by the trustee that the lender was wanting to proceed with foreclosure on his property. The type of financial agreement that Seller Dayne have with this lender is a Promissory agreement and Deed of trust.
A promissory agreement can be defined as an evidence of a debt and as such involves the use of a legal financial tool such as a promissory note as a written promise to declare that a party (borrower) would pay another (lender) at a specific period of time.
On the other hand, a deed of trust can be defined as a legal document used by a party (borrower) to pledge his or her property to another party (lender) as guarantee or collateral for the repayment of a loan. The deed of trust is typically made up of three (3) parties; the lender, borrower and a trustee.
Additionally, a foreclosure on a property refers to a legal procedure whereby the property being pledged by a borrower for a debt is sold to pay off the debt as a result of defaulting in payments or terms with respect to a loan.
Answer:
C) Inventory xxx Accounts Payable xxx
Explanation:
Accounts payable is a liability, and a liability always has a credit balance, as the amount is due to them. The company needs to pay them back.
Accordingly the company buys inventory and the inventory is an asset and thus, the company will debit the inventory account.
Whenever any purchases are made, or any service is utilized on credit then the company creates an accounts payable as a liability as against it.
Answer:
$11,000
Explanation:
Based on the information given What will be the MAXIMUM AMOUNT OF THE CHARITABLE CONTRIBUTION ALLOWABLE as an itemized deduction on Deet's income tax return will be the amount of $11,000 which represent the amount the art value that Deet donated to the local art museum which was valued at $11,000.
Therefore the maximum amount of the charitable contribution allowable as an itemized deduction on Deet's income tax return is $11,000
Answer:
Net Income : $16.616
Retained Earnings: $92.256
Please see details below:
Explanation:
Income Statement 2017
Sales $71.920
Advertising Expenses -$2.232
Miscellaneous Expenses -$50.096
Utilities Expenses -$2.976
Net Income $16.616
Retained Earnings Report
Opening retained earnings $ 83.080
Add: Net Income $ 16.616
Subtotal $ 99.696
Less: Dividens -$ 7.440
Total $ 92.256
Answer: It is more aggression than acquiescence. It is not a compromise between the two.
Explanation:
