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
stiks02 [169]
3 years ago
13

The buyer notifies the seller in writing of a termination of the contract under the Loan Objection Deadline. What happens to the

earnest money?
Business
1 answer:
-BARSIC- [3]3 years ago
5 0

Answer:

The earnest money must be returned to the buyer.

Explanation:

The loan objection deadline sets a specific by which the buyer must present a written notification to the seller stating that he/she will not be able to purchase the property due to problems related to obtaining a mortgage loan (or really any other reason, since only the buyer knows about his/her loan status). After this date, if the buyer cannot secure the mortgage loan and finish the purchase, the earnest money will be lost and must be given to the seller.

You might be interested in
Folsom Advertising, Inc. is considering an investment in a new information system. The new system requires an investment of $1,8
sveticcg [70]

Answer:

Payback period=2 years 5  months

Payback period=3 years  8 months

Explanation:

<em>The payback period is the estimated length of time in years it takes  .</em>

<em>It is the number of years it takes the cash project to break-even</em>

a) Payback period

Total cash flow for two years = 750×  2 = 1500.000

Balance of cash flow required to make up= 1800000- 1500,000  300,000

Payback period = 2 years + 300,000/750,000× 12 months=  2 years 5  months

Payback period=2 years 5  months

b) Payback period

Total cash flow for 3 years = 450,000 + $225,000 +600,000=1,275 ,000

Balance o cash required to make up 1800,000 = 1,800,000 -1275,000= 525,000

Pay back period = 3 years + 525,000/750,000×  12 months

                            = 3 years  8 months

Payback period=3 years  8 months

5 0
3 years ago
a corporate team building event costs2 plus an additional $1 per attendee. How many attendees can there be at most if the budget
Arlecino [84]
Since the equation would be:
2 + 1x = y
The inequality would be:
2 + 1x \leqslant 50
It would be :
x \leqslant 48
The most there can be are 48 attendees.

Tell me if this helps by marking the answer, thank you!!
3 0
3 years ago
4. when the total expenses are greater than the total revenues, (a) the income summary account has a credit balance. (b) the inc
irina [24]

When the total expenses are greater than the total revenues, then the income summary account has a debit balance.

An income summary account is a temporary account in which the revenue and expenses closing entries are entered to find out the profit or loss.

In the income summary account, all the revenue account closing entries are credited, and all the expenses closing entries are on the debit side.

Thus, if the credit balance is more than the debit balance, it shows the profit and if the debit balance is more than the credit balance, it shows the loss.

Learn more about "Income summary":

brainly.com/question/9122916

6 0
10 months ago
Dane is a stockholder in smallworld, inc., a c corporation that manufactures amusement park rides. the company recently lost a m
Georgia [21]
Dane and the other stockholders will lose their investments but nothing else. Because Dane and others are stockholders in this company, they will lose the money that they had invested in the company and they will no longer receive any dividend from the company again because the company has gone bankrupt. Dane and others are not liable for other debts that had been acquired by the company. 
7 0
3 years ago
P. Jameson Co. sold $500 of merchandise on Master Card credit sales. The net cash receipts from the sale are immediately deposit
Alchen [17]

Answer:

The journal entry would be as follows:

Account                                  Debit           Credit

Cash                                       $480

Sales Revenue                                           $500

Credit Card Expense                                 $20

The Credit Card Expense corresponds to the 4% fee that Master Card charged P. Jameson Co. ($500 x 20% = $20)

4 0
3 years ago
Other questions:
  • Why is it important to compare the APR for credit cards?
    10·2 answers
  • How is profit figured out
    7·1 answer
  • Your spouse is a teacher at the local elementary school. Which retirement plan would she most likely have?
    13·1 answer
  • The main advantage of __________ is specialization, as it allows the firm to focus its resources toward understanding and servin
    15·1 answer
  • Suppose you bought a bond with an annual coupon rate of 5.5 percent one year ago for $1,017. The bond sells for $1,041 today.
    7·1 answer
  • After a school district's annual _______ revealed potential safety vulnerabilities associated with dark and isolated parking lot
    6·1 answer
  • Dorothy Koehl recently leased space in the Southside Mall and opened a new business, Koehl's Doll Shop. Business has been good,
    12·1 answer
  • Milton Industries expects free cash flow of $5 million each year. Milton's corporate tax rate is 35%, and its unlevered cost of
    9·1 answer
  • Which of the following is a potential disadvantage when considering long-term loans as an option for raising capital?
    10·1 answer
  • Name and two factors that contribute to a detrimental​
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!