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iren [92.7K]
2 years ago
12

Maya, who lives in California, just purchased her first home at a Trustee’s foreclosure sale. She was given a deed at the sale.

What type of deed was she given?
Business
1 answer:
nevsk [136]2 years ago
7 0

Answer:  Trustee's Deed

                             

Explanation: A trust deed in immovable property in the Americas refers to a legal instrument used to develop a significant stake in the immovable property under which legal title in capital assets is diverted to a trustee holding that as security for such a loan between a creditor and perhaps a lender.

From the perspective of the investor, a document of trust has a vital benefit as compared to a mortgage. If a borrower fails to pay on the loan, on part of the lender, the trustee has the right to repossess the land. Thus, from the above we can conclude that Maya would have been given a trustee's deed.

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At what value should the land be recorded in clementine repair service records?
adell [148]

Answer: $369,500

Explanation:

The Cost concept of accounting calls for the recording of Assets at their cost.

Clementine Repair services offered to buy the land at $350,500 when it was priced at $388,500.

The seller countered with $369,500 and Clementine accepted this.

This means that Clementine bought the land for $369,500 which makes it the cost price.

They should therefore record it at $369,500.

6 0
3 years ago
Suppose a tax of $4 per unit is imposed on a good, and the tax causes the equilibrium quantity of the good to decrease from 2,00
Marina CMI [18]

Answer:

option (c) $600

Explanation:

Given:

Tax = $4 per unit

Initial equilibrium quantity = 2,000 units

Final equilibrium quantity = 1,700 units

Decrease in consumer surplus = $3,000

Decrease in consumer surplus = $4,400

Now,

Deadweight Loss is calculated using the formula:

Deadweight loss

= \frac{1}{2} × Tax × (Original equilibrium quantity - New equilibrium quantity)

on substituting the respective values, we get

Deadweight loss = \frac{1}{2} × 4 × (2,000 - 1,700)

or

Deadweight loss =  2 × (3)  = $600

Hence,

the correct answer is option (c) $600

4 0
3 years ago
A large account previously written off in a prior year was unexpectedly collected in the current year. as a result, the current
spin [16.1K]

In the given case the accounts were previously written off by debiting the Allowance for doubtful debts accounts now in order to revive these accounts receivable, we should Debit the Accounts Receivable and credit the Allowance for doubtful debts accounts. Hence the account to be credited is Allowance for doubtful debts accounts.

Hence the answer shall be Allowance for doubtful debts accounts


6 0
3 years ago
Sean is looking for a new job that will allow him the flexibility to work from home at least one day a week so he can care for h
liq [111]

<u>Answer</u>:

Boundaryless career pattern is similar as temporary workers.

<u>Explanation</u>:

“Boundaryless career” has been a new perspective in any organisation these days. This type of career pattern provides the employees flexibility in terms of working hours. They pay them high wages for their excellent skill set.  

A person works with several organisations at a single point of time and quickly develops his career. Knowledge of such people is quite high, and companies gain from their expertise. As given in the question, Sean is provided flexibility by allowing him to work from home so that he can take care of his parents. So, this is a boundaryless career pattern.

5 0
3 years ago
Many new restaurants have opened in collegetown in recent years. given this change in supply, what type of demand would result f
melamori03 [73]
The answer is Inelastic Demand. Hope this helps!!!
Have a great day!!

6 0
3 years ago
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