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3 years ago

Describe how you would apply for a mortgage.

1 answer:

5 0

You have to complete a " Mortgage Application", the application will usually ask for a credit report, any credit accounts, amount of income, available funds, credit card balances, and a price range. Once a lender has reviewed your application he/she will decide rather to approve or disapprove your application. If your application is approved you will need to make a down payment. A borrower with good/excellent credit is more likely to be approved for a mortgage. Interest rates will determine how much you will pay monthly. Interest rates can also change while the loan application is being reviewed and processed by the lender.

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Skysong Industries acquired two copyrights during 2020. One copyright related to a textbook that was developed internally at a c

Bezzdna [24]

Answer:

Explanation:

The question is asking fro the Reporting of the two copyrights in Skysong's balance sheet as at December 31,2020

Assumption: The first copyright was developed internally while the second copyright was purchased from the University Press

Based on this assumption, therefore,

For Copyright one: Since it was developed internally, it will not reflect in the balance sheet, it will not be recognized as an asset because it does not have any separate legal rights different from the organisation that developed it. As such it will be recorded in the Income statement as an expense

For Copyright two: This is an intangible asset with an indefinite number of useful life. Hence, $32,000 will be reported in the balance sheet as an intangible asset but the cost will only be tested for impairment and not amortized.

3 0

3 years ago

You plan to buy a house in July 2019. The sale price is $350,000. You need to pay 20% down payments and borrow additional 80% fr

daser333 [38]

So your down payment would be 70,000 (which is 350,000 X .2)

So you would be financing 280,000

Using the payment function

PV= 280,000

R= .036/12

N = 15*12= 180

Your payment would be: 2,015.45

6 0

3 years ago

The intended audience for the memo is___________.The tone of the memo should be________.Finally, the purpose of the memo is_____

amid [387]

The intended audience for the memo is all company employees. The tone of the memo should be formal. Finally, the purpose of the memo is to make sure employees understand and follow the updated dress code.

7 0

3 years ago

Each of these items must be considered in preparing a statement of cash flows for Flint Corporation. for the year ended December

patriot [66]

Answer and Explanation:

The classification is as follows:

a. Financing activity inflow of cash

b. INvesting activity outflow of cash

c. Investing activity inflow of cash

d. Financing activity outflow of cash

The inflow of cash shows the positive sign while on the other hand the outflow of cash shows the negative sign

And, the same should be relevant

8 0

3 years ago

The following information was available for Kingbird, Inc. at December 31, 2017: beginning inventory $70000; ending inventory $1

photoshop1234 [79]

Answer:

Inventory turnover ratio = 7.2 times

Explanation:

Given:

Beginning inventory = $70,000

Ending inventory = $108,000

Cost of goods sold = $644,000

Sales = $888,000

Find:

Inventory turnover ratio

Computation:

Average inventory = [Beginning inventory + Ending inventory] / 2

Average inventory = ($70,000 + $108,000) / 2

Average inventory = $89,000

Inventory turnover ratio = Cost of goods sold / Average inventory

Inventory turnover ratio = $644,000 / $89,000

Inventory turnover ratio = 7.2 times

5 0

3 years ago