Mischa needs to find Down Payment to become Eligible for a mortgage.
Getting a mortgage on a house can be a life-changing experience. For the next 20-30 years you will need to make a mortgage payment every month.
However, before you are able to get a mortgage you need to have a good credit history and you need to make some form of a down payment.
This can be typically 10-20% of the value of the house. Without this, you cannot mortgage as the bank requires you to put some money upfront.
Answer:
Debit Cash account (with the amount received)
Credit Accounts receivables (with the amount received)
Explanation:
Revenue is not recorded until the recognition criteria for the recognition of revenue has been met and this includes;
- the corresponding cost incurred in generating revenue can be reliably measured
- the goods or service has been delivered
Given that the service was performed in May, when half of the fee was received in April, the required entries then was
Debit Cash account
Credit Unearned revenue (with the amount received being half payment)
when the service was performed in May,revenue was earned
Debit Unearned revenue (with the amount received being half payment)
Debit Accounts receivable (with the amount yet to be received being half payment)
Credit Revenue (with the amount agreed for the service)
In June when the final payment is received,
Debit Cash account (with the amount received)
Credit Accounts receivables (with the amount received)
Answer:
interest rates change! hope this helps! :)
Explanation:
Answer: False
Explanation:
In the long run, if there are still firms making an Economic profit, this would encourage other firms to enter the market. Once this happens the firms would stop making an Economic profit. Should they start making an economic loss, some firms would leave the market which would then bring the Economic losses to zero.
The answer is C.
This is a legal document because layers like longer than normal paper so they could more notes into a normal looking paper to look professional.
Best of Luck!
