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LenaWriter [7]
3 years ago
12

Mary and Larry are purchasing a house for $198,000. They are making a down payment of $20,000, and they are approved for a confo

rming loan. How much should they expect to receive in seller help if the seller agrees to contribute the maximum amount
Business
1 answer:
Amiraneli [1.4K]3 years ago
7 0

Answer:

$11,880

Explanation:

The computation of the amount that should be expected to recieve in seller is shown below:

The maximum seller contribution should be 6% for confirming the loan as the down payment is more than 10%

So, the amount should be

= $6% of $198,000

= $11,880

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You purchase one IBM July 120 put contract for a premium of $3. You hold the option until the expiration date when IBM stock sel
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Loss on putting for long time = $300 (Loss )

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The "four P's" of marketing are
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Tarrant Corporation was organized this year to operate a financial consulting business. The charter authorized the following sto
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Solution :

                                      Tarrant Corporations

First of all let us prepare the Journal Entries

1. Cash     (7000 x 38)                                     266,000

  Common stock (7000 x 19)                                                       133,000

  Paid in capital in excess of stated value

  common stock   (7000 x 19)                                                      133,000

2. Cash   (2600 x 43)                                      111,800

   common stock  (2600 x 19)                                                       49400

   Paid in capital in excess of stated value

     Common stock (2600 x 24)                                                    62400

3. Income summary                                        7000

    Retained earing                                                                         7000

                        Tarrant corporation

Balance sheet - shareholder's section

Share holder's equity

Contributed capital

$ 19 par, issued and outstanding 9600 shares   =  182400

Paid in capital in excess of par                                 196800

Total contributed capital                                            379200

Retained earnings                                                          7200

Total shareholder's equity                                          372,000                              

8 0
3 years ago
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