Answer:
Option D; JO IS LIABLE TO BIG LOAN CO. SINCE SHE RECEIVED A NOTICE FROM THEM ABOUT THE ASSIGNMENT.
Explanation:
A mortgage is a loan provided by a mortgage lender or a bank that enables an individual to purchase a home.
Mortgage payments usually occur on a monthly basis and consist of four main parts: principal, interest, taxes and insurance.
A transfer of mortgage is the reassignment of an existing mortgage, usually on a home, from the current holder to another person or entity.
When mortgage is transferred, two notices will be sent: one from the current mortgage servicer and the other from the new servicer. All payments after the notification will be made to the new servicer.
Since Jo was notified about the reassignment from Fund All Savings to Big loan Co. but still continues to pay Fund All Savings and Big Loan Co. sues Jo for nonpayment. What is most likely to be the court's judgement is that JO IS LIABLE TO BIG LOAN Co. SINCE SHE RECEIVED A NOTICE FROM THEM ABOUT THE ASSIGNMENT.
Answer:
STARK COMPANY
INCOME STATEMENT
FOR THE YEAR ENDED DECEMBER 31
PARTICULARS AMOUNT$
Service Revenue 20,000
<u>Less-Expenses</u>
Supplies expense 200
Interest expense 500
Insurance expense 1800
Utilities expense 1300
Depreciation expense 2000
Wages expense 7500
Total expenses <u>13,300</u>
Net profit <u>$6,700</u>
STARK COMPANY
STATEMENT OF RETAINED EARNINGS
FOR THE YEAR ENDED DECEMBER 31 Amount$
Retained earnings December 31 prior year end 14,800
Add- Net income 6,700
Less- Dividends 3,000
Retained earnings, December 31 Current year end $18,500
Explanation: The study of microeconomics helps the decision makers to analyze and determine how the productive resources are allocated for various goods and services. It also helps in solving the producers' dilemma of what to produce, how much to produce and for whom to produce. <33
Domain extensions occur after the period
Answer:
$45,000
Explanation:
LCM (lower of cost or market) is an inventory valuation method that uses the lower figure between the cost of purchase of an inventory, and the price at which it can be currently replaced in the market, as the carrying amount of the inventory.
Accordingly, using LCM, the value of Daily Grind's inventory
= lower value of (inventory of coffee makers without timer) + (inventory of coffee makers with timer)
= 10,000 + 35,000
= $45,000
