Answer:
wrap around mortgage
Explanation:
A wrap-around mortgage is can be used in deals of owner-financing.
Wrap around mortgage refers to two or more mortgages consolidated into one payment. Such type of mortgage allow the buyer to purchase with a smaller down payment. A buyer also gets an added benefit of a below market interest rate first mortgage. A wrap-around mortgage can only be used to homes with an existing FHA or VA loans.
Answer:
Line organization model
Explanation:
Based on the information provided within the question it seems that Party Pros Inc. is using a Line organization model. This is an organizational structure in which power flows from the top to the bottom, meaning that the person at the top is the owner and the individuals in each level of the hierarchy answer to those in the upper levels, all of which are trying to accomplish the same organizational goals. Such as is being described in this situation.
Answer and Explanation:
The journal entries are shown below:
On Jan 1, 2014
Unearned compensation Dr. $45,000
To paid in capital in excess of par $35,500
To common stock $9,500
(Being the unearned compensation is recorded)
On Dec 31,2014
Compensation expense Dr. $15,000 ($45,000 ÷ 3 years)
To unearned compensation $15,000
(Being one year compensation became due is recorded)
Current assets, or possessions used up within a year, are generally used to settle current liabilities.
<h3>Why do you use the term "current liabilities"?</h3>
- Current liabilities are debts or commitments that fall due within a year or during the regular business cycle. Additionally, current obligations are paid off by using a current asset, either by generating a fresh current liability or by using cash.
- In accounting, current liabilities are frequently interpreted as all debts owed by a company that must be paid in cash within the fiscal year or the operational cycle of that particular company, whichever is longer.
- Current assets, or possessions used up within a year, are generally used to settle current liabilities. Accounts payable, short-term loans, dividends, and notes payable are a few examples of current liabilities, along with any outstanding income taxes.
To learn more about Current assets refer to:
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Answer and Explanation:
B. workers, managers, and entrepreneurs could not personally gain by responding to shortages or surpluses or by introducing new and improved products.
