1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
vfiekz [6]
3 years ago
7

A property is sold for $150,000 with the buyer agrees to assume an existing loan of $98,000 and executing a second note and deed

of trust to the seller for $30,000. The purchase contract states that the unpaid balance of any existing loan is approximate and at closing any differences shall be reflected in cash. If the buyers closing costs are $2,500 and the remaining balance of the first loan is $89,800, what is the total cash due from the buyer at closing?
Business
1 answer:
kati45 [8]3 years ago
5 0

Answer:

The total cash due from the buyer at closing is $ 32700.

Explanation:

The total cash due from the buyer at closing is given by the sum of: the cost of the property plus the closing cost, minus the remaining balance of the first loan minus the note and deed of trust. So, we have:

Total_Cash= 150000+2500-89800-30000

Total_Cash= $ 32700

The total cash due from the buyer at closing is $ 32700.

You might be interested in
Dana spends several hours researching prices and online reviews of t-shirts for a school
Sunny_sXe [5.5K]

Answer:

B. The time spent on the task

Explanation:

The time that Dana spends carrying out her task is a cost to her.  That cost can be calculated by ascertaining the gains or benefits she has missed due to the research.

If Dana were not doing the research, she would be engaged in other activities. Those activities could have been of benefit to her, be it financially or otherwise. The benefits foregone are the cost of Dana doing the research.

8 0
3 years ago
A The following section is taken from Blossom's balance sheet at December 31, 2021.
loris [4]

Answer:

Date    Account titles and explanation          Debit       Credit

1-1-21    Bond interest payable                       $46,000

                  Cash                                                               $46,000

            (To record payment of interest)

1-1-21    Bond payable                                    $155,000

            Loss on redemption bond                $15,500

            (155,000/100*10)

                    Cash                                                              $170,500

            (To record bond redemption)

31-1-21   Interest expenses                              $36,450

                    Bond interest expenses                               $36,450

                    (560,000-155,000)*9%

             (Adjusting entry to accrue the interest on the remaining)

6 0
3 years ago
Which phrase best completes the list?
Jobisdone [24]

Answer:a

Explanation:

8 0
3 years ago
Suppose there is an increase in demand in a market and no change in the supply. What will happen to the market equilibrium price
adelina 88 [10]

Answer:

c.Equilibrium price will rise; equilibrium quantity will rise. 

Explanation:

If there's an increase in demand and supply remains unchanged. The demand curve would shift to the right and there would be an excess of demand over supply. Equilibrium price and quantity would increase.

I hope my answer helps you

8 0
3 years ago
2. Damaged batteries need to be placed in an acld-resistant container or tub Immediately.
katrin2010 [14]
The answer is B. Batteries contain sulphuric acid, of the battery is damaged the acid can be corrosive but it’s not toxic too rich, simply dispose of it.
6 0
3 years ago
Read 2 more answers
Other questions:
  • Sherrod, Inc., reported a pretax accounting income of $76 million for 2011. The following information relates to differences bet
    5·1 answer
  • The lumber companies began to replant forests after they cut them down; this process is known as lumber farming. Lumber farming
    13·1 answer
  • Question 6
    5·1 answer
  • Ottawa, Inc. provides the following data: 2019 2018 Cash $23,000 $22,000 Accounts Receivable, Net 37,000 37,000 Merchandise Inve
    12·1 answer
  • Reserves $27,000 Checkable Deposits $110,000 Loans 50,000 Stock Shares 200,000 Securities 33,000 Property 200,000 Refer to the a
    8·1 answer
  • Ted is the owner and chief executive officer of a business. He recently began an advertising campaign to promote a new product t
    5·1 answer
  • g The low cost of labor in other countries around the globe is a factor that business must consider because they are impacted by
    9·1 answer
  • Guillermo's Oil and Lube Company is a service company that offers oil changes and lubrication for automobiles and light trucks.
    6·1 answer
  • If a student identifies "family doesn't have enough money for college" as a barrier to her long-term education goal, which of th
    10·1 answer
  • astrid is starting a new job that involves a lot a driving, and she wants to have a comfortable new car with the latest gadgets.
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!