Answer:
option (b) $4,200 gain
Explanation:
Data provided in the question:
Par value of outstanding bonds = $119,000
Carrying value of the bonds = $108,700
Price at which bond is called = $104,500
Now,
Gain on the retirement is calculated using the relation as;
Gain on retirement
= Carrying value of Bonds - Price at which bond is called
= $108,700 - $104,500
= $4,200
Since, the result is positive, therefore a gain will be recognized
Hence, correct answer is option (b) $4,200 gain
A mortgage clause that states that the mortgage is due and payable upon certain conditions, such as the non-payment is the option(d) i.e, the Acceleration clause.
<h3>What is
a mortgage clause?</h3>
A provision in an insurance policy (such as a fire insurance policy) that allows the designated mortgage to receive payment for property damage or loss.
There are different types of clauses:
- Acceleration clause
- Due-On-Sale clause
- Prepayment Penalty clause
- Subordination clause
- Release clause
If the borrower breaches the conditions of the agreement, an acceleration clause in a mortgage or trust deed states that the entire obligation is payable immediately. Additionally, it will specify the circumstances under which a lender may request full loan payback. For instance, home loans frequently feature an acceleration provision that kicks in after a certain number of missed payments.
Most of the time, it is harmful to accelerate a loan. Typically, it denotes that the borrower has fallen behind on payments or broken the terms of the agreement, and the lender is requiring prompt repayment of the whole loan balance to avoid foreclosure.
To know more about mortgage clause refer to: brainly.com/question/13964240
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Answer:
$64,000 and $358,000
Explanation:
The computation is shown below:
For land:
= Purchase price of land + Legal fees for contracts to purchase land + Demolition of old building on site - Sale of scrap from old building
= $60,000 + $2,000 + $5,000 - $3,000
= $64,000
For building:
= Construction cost of new building (fully completed) + Architects’ fees
= $350,000 + $8,000
=$358,000
<span>C: strict liability
I hope this helped ya :)</span>
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