When the sellers are lending part of the purchase price, they may secure the debt either with a deed of trust or a mortgage. For the seller, one benefit of the deed of trust is that foreclosure is usually simpler and faster.
Foreclosure is the process by which the lender retakes the real estate when a borrower defaults on a home loan.
In the states which allow the use of a deed of trust as opposed to a mortgage agreement, most of the homes are foreclosed through a process called non-judicial foreclosure.
Non-judicial foreclosure occurs outside the court system, and is usually much faster and cheaper than judicial foreclosure.
Defending against non-judicial foreclosure in court is difficult because usually one must show the court that he will be able to afford to pay off the loan if it is reinstated.
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<u>Given:</u>
Value forgone = 5
Value gained = 4
<u>To find:</u>
The opportunity cost
<u>Solution:</u>
Opportunity cost can be stated as the loss of some effective gain when one alternative is selected over the other. The following is the formula to calculate the opportunity costs,
On plugging-in the given values in the above formula, we get
Therefore, the opportunity cost is 5/4.
Answer:
1st copyright will not be reported on balance sheet.
2nd copyright will be reported on balance sheet.
Dr Copyright (Intangible Asset) $34,000
Cr Cash $34,000
Explanation:
<u>1st Copyright</u>
If an intangible asset is internally generated, none of its costs are capitalized.
<u>2nd Copyright</u>
Acquired copyright is reported on balance sheet as an intangible asset. Company may include only outright purchase costs in the acquisition cost of an intangible asset; the acquisition cost does not include cost of internal development.
Only recognized intangible assets with finite useful lives are amortized. Recognized intangible assets having indefinite useful lives are not amortized.
Answer:
as per Section 1231 , gain = $2,004
as per Section 1245 here ordinary income = $3,855
Explanation:
given data
Sale value = $14,853
Original cost = $12,849
Depreciation = $3,855
solution
we know that by provisions when sale value is more than original cost
than there excess amount will be treated as the section 1231 capital gain
and that gain up to depreciation amount will be treated as ordinary income under the section 1245
so here we get here first total profit that is
total profit = $14,853 - $12,849 - $3,855
total profit = $5,859
so as per Section 1231
gain = $14,853 - 12,849
gain = $2,004
and
as per Section 1245
here ordinary income = $3,855
Diego and his supervisor have coffee together every Monday is an example of a ritual
<h3>What is a ritual?</h3>
A ritual is described as set of activities which may involve gestures, words, actions, or objects, performed according to a set sequence.
According to Diego and his supervisor, there has a been a constant action performed every week (taking coffee together). Since this act has become repetitive, they have become a ritual.
Hence Diego and his supervisor have coffee together every Monday is an example of a ritual
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