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SVEN [57.7K]
3 years ago
12

In one state, a mortgagee holds legal title to real property offered as collateral for a loan, and the mortgagor retains the rig

hts of possession and use. If the borrower defaults, the lender is entitled to immediate possession and rents. This state can be BEST characterized as what kind of state
Business
1 answer:
True [87]3 years ago
7 0

Answer:

Lein Theory.

Explanation:

Lien theory refers to the theory in which the buyer stops the property deed at the time of the mortgage. Also the buyer promised to pay all the payments so that the mortgage could become a lien on a property but at the same time the  title would remain with the buyer but if all the payments are paid so the lien could be removed

Therefore in the given situation, it represents the lien theory

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A company purchased factory equipment on April 1, 2022 for $69600. It is estimated that the equipment will have a $12000 salvage
goldfiish [28.3K]

Answer:

$4,320

Explanation:

Calculation for the amount to be recorded as depreciation expense at December 31, 2022

Using this formula

Depreciation expense at December 31, 2022=[(Factory equipment - Salvage value) ÷ 10]× 9/12

Let plug in the formula

Depreciation expense at December 31, 2022=[($69,600 - $12,000) ÷ 10] × 9/12

Depreciation expense at December 31, 2022=$5,760×9/12

Depreciation expense at December 31, 2022=$4,320

Note that 1 April 2022 to 31st December 2022 will give us 9months

Therefore Using the straight-line method of depreciation, the amount to be recorded as depreciation expense at December 31, 2022 is:$4,320

3 0
2 years ago
Deanna purchased $24,000 worth of stock and paid her broker a 1% broker fee. She sold the stock when it increased to $29,100 thr
vazorg [7]

Answer:

Here:

Explanation:

Purchase price of shares = 24000

total purchase cost = price of shares bought + broker fees total purchase cost = 24000 + 0.01*24000 =24240

selling price of shares = 29100

total selling cost = price of shares sold - broker fees total selling cost = 29100 - 35 = 29065

Net proceeeds = total selling cost - total purchase cost Net proceeds = 29065 - 24240 = 4825

7 0
2 years ago
In a job order costing​ system, a credit to Finished Goods Inventory will be accompanied by a debit to A. WorkminusinminusProces
goldenfox [79]

Answer:

A. Work-in-Process Inventory

Explanation:

What a credit to finished goods inventory actually means is that there was an increase in the number of finished goods. If finished goods increased, it means that the number of goods still being worked on (Work-in-process inventory) has decreased (debit). Thus, this transaction must be accompanied by a debit to Work-in-Process Inventory.

4 0
3 years ago
If a gain of $5,278 is realized in selling (for cash) office equipment having a book value of $50,852, find the total amount rep
Alina [70]

Answer:

B) $56,130

Explanation:

The cash flow statement shows how the company's operating, investing and financing activities affect the flow of cash by generation or use.

The investing activities section is where the purchase of fixed assets and the amount received for the disposal of these assets are accounted for.

Given that a gain was realized and the book value of  the asset was given, the amount received for the disposal

= $5,278 + $50,852

= $56,130

This is the amount that will be reported in the investing activities section of the statement of cash flows as an inflow.

6 0
3 years ago
A critical function of the government in facilitating the operation of a market economy is
o-na [289]
A critical function of the government in facilitating the operation of a market economy is setting and enforcing private property rights. Private property rights determine how a resource or good is owned. 
4 0
2 years ago
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