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MrRissso [65]
4 years ago
7

Mr. and Mrs. Jones are purchasing a summer home in a new resort development. The house is completely equipped, and the buyers ha

ve obtained a trust deed loan that covers the purchase price of the residence, including furnishings and appliances. This kind of financing is called _____
Business
1 answer:
Liono4ka [1.6K]4 years ago
4 0

Answer:

The correct answer is A package trust deed.

Explanation:

A trust or trust (from the Latin fideicommissum, in turn from fides, "faith", and commissus, "commission") is a contract under which one or more persons (trustor / trustee / s) transfer assets, amounts of money or rights, present or future, of your property to another person (fiduciary, who may be a natural or legal person) to administer or invest the property for their own benefit or for the benefit of a third party, called beneficiary, and transmit your property, upon compliance with a term or condition, to the trustee, which may be the trustee, the beneficiary or another person.

At the time of the creation of the trust, neither party owns the property object of the trust. The trust is, therefore, a contract whereby a person allocates certain assets for a specific lawful purpose, entrusting the realization of that purpose to a fiduciary institution in all companies.

The assets affected by the trust do not run the commercial risk of the trustee (the one who transfers ownership of the assets) or the trustee (the owner of the trust assets after the expiration of the contract term), since the assets that are the object of the trust It cannot be prosecuted by the creditors of either of them, nor affected by the bankruptcy of both or any of them.

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On January 1, the Sleepy Monk Coffee Shop paid $39,000 for a full year of rent beginning on January 1. The rent payment was appr
Anit [1.1K]

Answer:

Debit Rent expense and credit prepaid rent for $3,250.

Explanation:

When rent is paid in advance, cash is exchanged for another asset known as prepaid expense. This entry is recorded as

Debit Prepaid expense

Credit Cash account

As the rent is used up, the entries required are;

Debit Rent expense

Credit Prepaid expense

Hence as at January 31, rent expense incurred

= 1/12 × $39,000

= $3,250

4 0
4 years ago
Discuss 5 Ghanaian companies and their business portfolios
Akimi4 [234]

There are many companies in Ghana and some of those companies and what they do include:

Accra Brewery Limited

  • Founded in 1931 as Overseas Breweries Limited
  • Offers brewery products such as CLUB Premium Lager
  • Saw huge expansion after the second World War
  • Currently under Anheuser-Busch InBev (ABInBev)

<u>Agricultural Development Bank </u><u>of </u><u>Ghana</u>

  • Founded in 1965 and is owned entirely by the government
  • Offers loans and agricultural credit to boost agriculture
  • Also offers corporate, international, and commercial banking

Clydestone Ghana

  • Founded in June 1989 and is located in Nigeria, Kenya, UK, and Ghana
  • Offer products in the information and communication industry including transaction processing
  • Listed on Ghana Stock Exchange

Produce Buying Company

  • Founded in 1981
  • Are major players in the cocoa industry in West Africa
  • Are also players in other cash crops such as sheanuts

Suretrack Contracts Services

  • Founded in 2007
  • Offers construction services such as engineering and construction management.
  • Is a privately owned company.

<em>Find out more at brainly.com/question/25130784. </em>

5 0
3 years ago
Principal components of a master budget include a.production budget b.capital expenditures budget c.sales budget d.All of these
murzikaleks [220]

The principal components of a master budget include D. All of the above.

<h3>What is a budget?</h3>

A budget simply means an estimate of the income and expenditure for a particular period.

In this case, the principal components of a master budget include production budget, capital expenditures budget, and sales budget. Therefore, it's all of the above.

Learn more about budget on:

brainly.com/question/24940564

4 0
2 years ago
Investing $2,000,000 in TQM's Channel Support Systems initiative will at a minimum increase demand for your products 3.0% in thi
Neko [114]

Answer:

the payback period is 14 months

Explanation:

The computation of the payback period is shown below:

Profit is

= $2,000,000 - $1,669,426

= $330,574

Now payback period is

= 1 + $330,574 ÷ $1,669,426

= 1 +0.198 years

= 1.198 years

= 14.37 months

= 14 months

Hence, the payback period is 14 months

8 0
3 years ago
PLEASE HELP!!!!!!!!!!
Komok [63]

Methods that can be used to increase document readability include is adjust space between column add contrast.

Requirements vary by document type and include standards for resolution, color and file format, as well as minimum metadata that needs to be clear when scanning.

see more about documents at brainly.com/question/27396650

4 0
2 years ago
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