Answer:
A. $153,000
Explanation:
The Journal Entry is shown below:-
Property Dr, $1,173,000
To Treasure stock $1,020,000
To additional paid-in-capital $153,000
The computation is given below:-
For Property
= 25,500 × $46
= $1,173,000
For Treasure stock
= 25,500 × $40
= $1,020,000
For Additional paid-in-capital
= $1,173,000 - $1,020,000
= $153,000
Answer:
A. Prequalification
Explanation:
First, the Options to the Question
a. Prequalification
b. A contingency clause
c. A Multiple Listing Service
d. Due diligence
What is a PreQualification in Mortgage Processing
Because most persons who are interested in buying a home do not have hundreds of thousands of dollars in cash to purchase the home of their dreams, the concept of mortgage is to approach a lender who will then advance the needed sum for the purchase and then the borrower will pay the advanced sum over some time (most times up to 30 years) at an interest rate.
A PreQualification is a process through which the lender evaluates the creditworthiness of the borrower and also decide the amount of loan the borrower is entitled to. This is done through the financial documents and records made available to the lender by the borrower
One important takeaway from a prequalification is that it is an approximation of what a borrower is entitled to base solely on the information given to the lender. It is, therefore, an approximation which can be less or more when the official application for the loan is submitted.
As stated in the question, getting a prequalification helps Matt to identify and understand the areas of problems and credit report errors that may arise and then he can use the prequalification information to attend to these errors and ensure a proper application is submitted that will allow him to maximise the amount of loan that can be made available to him.
Once Matt has corrected errors and identified problems that may arise on his mortgage application, he then gathers the relevant document and goes for the first formal process in mortgage processing which is the preapproval.
The straight line depreciation expense in 2022 is $1500.
The straight line depreciation expense in 2023 is $3000.
<h3>What is the depreciation expense in 2022 and 2023?</h3>
The striaght line depreciation method spreads out the depreciation expense equally over the useful life of the project.
Straight line depreciation expense = (Cost of asset - Salvage value) / useful life
($32,000 - $4,000) / 8 = $3000
The depreciation expense each year would be $3000 except in 2022 when the truck was used for 6 months.
Depreciation expense in 2022 = 6/12(3000) = $1500
To learn more about straight line depreciation, please check: brainly.com/question/6982430
In a free port, there are few if any taxes placed on good unloaded from other countries. Free port means is called as bonded area. This area have lesser custom regulation that's why fewer taxes is charged on the goods.
Answer:
The correct answer is: Franchise.
Explanation:
A Franchise is a company in which one party -<em>the franchisee</em>- gains access to the proprietary information, procedures, and trademarks of an established business -<em>the franchisor</em>. A franchise provides the opportunity to own a company while avoiding many of the initial challenges. The franchisee purchases the right to sell a product or service under an established brand name, the customer already knows the brand, so there is no need for additional resources to launch the products.
