Junior Lenders would be least likely to approve a short sale.
What is a junior interest?
Junior Interest means a performing junior participation interest in a stabilized or transitional senior commercial, multifamily fixed or floating rate mortgage loan secured by a first lien on multifamily and commercial properties or a subordinate portion of a Senior Mortgage Loan evidenced
Is a take out loan the same as junior mortgage?
A junior mortgage is a second mortgage loan that you take out against your home's equity using the property as collateral. A junior mortgage assumes that you already have a mortgage that's also secured by the home. A junior mortgage forms a second lien against the property.
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Answer:
$343
Explanation:
Andrea and Phillip's annual premium cost can be calculated using the cost per thousand formula:
cost per thousand = annual premium / thousands of coverage
- cost per thousand = $0.98
- thousands of coverage = $350,000 / $1,000 = 350
$0.98 = annual premium / 350
annual premium = $0.98 x 350 = $343
Answer:
There will be a difference in the income .
Absorption costing income will be lower as it transfers all the fixed costs to the ending inventory.
Variable costing income will be higher as it does not transfer the fixed costs to the ending inventory.
The difference will be of $ 104000
Explanation:
Increase in units 8000
Variable Fixed
Unit manufacturing costs of the period $24.00 $10.00
Unit operating expenses of the period 8.00 3.00
Total Unit Costs $ 32.00 $ 13.00
The net operating income under variable costing for the year will be $ 13* 8000= $ 104000 Lower than the net operating income under absorption costing. This is because the all fixed costs will be treated as period cost rather than product costs.
In variable costing the ending inventory will be $104000 lower than the ending inventory under absorption costing because the fixed costs will not be allocated to products.
Under variable costing, the units in the ending inventory will be costed at $32 each.Under absorption costing, the units in the ending inventory will be costed at $32+ $ 13= $ 45 each.
Answer:
Explanation:
The necessary adjusting entries at December 31 to record amortization required by the events above has been prepared.
It should also be noted that due to the goodwill having an indefinite life, no entry was made to amortize the goodwill.
It should be noted that the amortization expense was gotten as:
Annual amortization = $75,000/5
= $15,000
2015 amortization= $15,000 × 8/12months
= $15,000 × 2/3
= $30,000/3
= $10,000
Kindly check the attached file forthe adjusting entries
Answer:
A: $1,475,000
Explanation:
The computation of the overhead applied is shown below:
But before that first determine the predetermined overhead rate which is
= Estimated annual overhead cost ÷ Estimated machine hours
= $1,500,000 ÷ 300,000
= $5
Now the applied overhead is
= Predetermined overhead rate × Actual machine hours
= $5 × 295,000
= $1,475,000
