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Roman55 [17]
3 years ago
7

An offer is made on a property listed with broker Green for $93,000. The offer is for $91,000 and the buyer will be obtaining FH

A financing. The appraisal comes in at $88,000. What recourse does the buyer have?
Business
1 answer:
NemiM [27]3 years ago
5 0

Answer:

An offer is made on a property listed with broker Green for $93,000. The offer is for $91,000 and the buyer will be obtaining FHA financing. The appraisal comes in at $88,000. The recourse which the buyer have is:

  • The buyer may get an FHA loan provided the difference between the appraised price is paid in cash.

Explanation:

  • FHA stands for Federal Housing Authority. The FHA loan helps the buyer to get the home and it is a mortgage that is issued by the approved lender of the FHA.
  • The benefit of this loan is that these loans require a lower minimum down payments and credit scores as compared to other conventional loans.
  • In our case, the buyer will get the the financing from FHA to cover the difference of money between appraised price and actual price of the property.
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The following account balances were taken from the 2021 post-closing trial balance of the Bowler Corporation: cash, $9,500; acco
Pavlova-9 [17]

Answer:

$196,000

Explanation:

The question is to prepare the balance sheet of Bowler Corporation as at the end of 2021.

Balance Sheet is generally divided into Assets side (Non-Current and current) Liabilities (non-current and current) and the Stockholders equity. A good balance sheet should be as follows Asset= Liabilities + Equity

Bowler Corporation Balance Sheet as at 2021

Particulars                                            Amount($)                 Amount($)

Non-Current Assets

Equipment                                          210,000

Less: Depreciation                            <u> (78,000)    </u>                132,000

Current Assets

Cash                                                      9,500

Accounts receivable                            19,500

Inventory                                               <u>35,000</u>

Total Current Assets                                                             <u>64,000</u>

Total Assets                                                                          196,000

Liabilities and Equity

Current Liabilities

Accounts Payable                                 75,000

Salaries payable                                <u>    31,000</u>

Total liabilities                                                                         106,000

Equity                                                  

Common Stock                                      69,000

Retained earnings                                <u>  21,000</u>

Total stockholders' equity                                                        <u> 90,000</u>

Total Liabilities and Equity                                                     196,000

4 0
3 years ago
All of the following are examples of financial stability except. a. being able to save for retirement. b. being able to pay bill
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Answer:

d. living paycheck to paycheck

Explanation:

Being financially stable means the ability to generate sufficient income to meet current and future expenditures. It means one can comfortably pay current bills, and have enough to meet for unexpected or emergency expenses.  A financially stable person can afford the basic need as well secondary needs such as education, investments, and vacations with ease.

From the list provided, examples of financial stability will include the ability to save for the future, meet current bills, and not living paycheck to paycheck. Living from paycheck to paycheck means a person spends all his or her earnings within the month. In most cases, their monthly budgets exceed income. The individual may have slightly enough or insufficient resources to last them until the next payday.

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24. The Milham Corporation has two divisions—North and South. The divisions have the following revenues and expenses: North Sout
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Answer:

The elimination of the North division would result in an increase to net operating income of $100,000 for the South division.

Explanation:

Please see computation of the company's overall net profit

= South sales - South variable costs - South traceable fixed costs - South allocated common corporate cost - North allocated common corporate cost

= $880,000 - $550,000 - $80,000 - $50,000 - $100,000

= $100,000 profit.

N.B

Since the North division has been eliminated, all the items for North division would all be ignored except its allocated common corporate cost.

8 0
3 years ago
The common stock of the Avalon Corporation has been trading in a narrow range around $40 per share for months, and you believe i
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$700

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Considering the above

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Total premium income from selling a stradle = (P + C)100

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The correct answer is True.

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With word of mouth advertising, you can surely get your business to reach different cities; but not at the speed that is required to recover the investment invested.

Businesses that have a local advertising plan will be able to bring their products and / or services to potential customers located in the target geographic area and increase their recognition as a local brand.

We are sure you have heard the following quotes; <em>"The best publicity is what satisfied customers do"</em> by Philip Kotler, and "What helps people helps business" by Leo Burnett

So why is local advertising important? Business owners have asked themselves this question for years, and the answer is really quite simple ...  To get attention, direct traffic to your business and close sales.

6 0
3 years ago
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