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4vir4ik [10]
3 years ago
5

A buyer's closing statement shows different items, including a purchase price of $58,325, an assumable mortgage of $55,000, a su

rvey fee of $250, total debits of $59,925.25, title insurance of $395, 1% loan origination fee, total credits of $58,295, 2% for discount points, contract deposit of $3,000, and rent prorations of $495. Based on this information, how much money does the buyer need to bring to the closing
Business
1 answer:
zhannawk [14.2K]3 years ago
5 0

Answer:

$1,630.25

Explanation:

The computation of the money does the buyer required to bring the closing is given below;

= Total debits - total credits

= $59,925.25 - $58,295

= $1,630.25

The difference of total debits and total credits deemed to be the amount required to bring to the closing

Hence, the answer is $1,630.25

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It is claimed that mutual funds have two advantages. The first is that mutual funds allow people with small amounts of money to
romanna [79]

Answer:

The correct answer is d. Economists strongly agree with the first claim, but are skeptical of the second.

Explanation:

A mutual fund is an investment alternative that consists of contributions from natural and legal persons (called participants or contributors), to form equity for their investment in shares, debt instruments or fixed income, or a combination of both ( shares + fixed income). They offer a diversified investment alternative since they invest in numerous instruments at the same time. These instruments vary according to the type of fund and are defined by the investment policy regulated by the Superintendency of Securities and Insurance. They are managed by corporations called General Fund Administrators (AGF) that are chosen by the participants themselves. It is important to choose both the administrator and the type of fund based on what best suits each personal situation.

5 0
4 years ago
What is the difference between entrepreneurial and bureaucratic organizations?
Airida [17]
Entrepreneurs work by themselves and bureau is working with an organization
5 0
3 years ago
Read 2 more answers
Majid Corporation sells a product for $195 per unit. The product's current sales are 42,300 units and its break-even sales are 3
evablogger [386]

Answer:

$1,389,375

Explanation:

Data provided as per the question:-

Product per unit = $195

Current sales = 42,300 units

Break-even sales = 35,175 units

The computation of margin of safety in dollars is shown below:-

Margin of safety (in units) = Total sales - Break-even sales

= 42,300 - 35,175

=7,125 units

Margin of safety (in dollars) = Margin of safety × Product per unit

=(7,125 × $195)

= $1,389,375

5 0
3 years ago
What stipulation on the use of Star Wars did the<br> federal district court include in its ruling?
tankabanditka [31]

Answer:

C.) The interest groups could only use the phrase for non-profit purposes.

Explanation:

I know for a fact I am right, cause I was built *DIFFERENT*

Have a spectacular day!! :D

6 0
3 years ago
Zen Co. sells a copier machine for $2,000. The copier cost Zen $6,000 and at the time of sale, accumulated depreciation was $2,5
Alenkinab [10]

Answer:

The correct option is: Debit to Loss on Disposal of Machinery for $1,500.

Explanation:

As at the time of sale, the net book value (cost - accumulated depreciation) of the copier machine was $3,500 ($6,000 - $2,500). Then, the proceed from sale is $2,000. The full accounting entries to record the transaction will be:

Debit Accumulated depreciation                          $2,500

Debit Cash (sales proceed)                                   $2,000

Debit Loss on disposal of machinery                    $1,500

Credit Fixed asset (cost - copier machine)           $6,000

<em>(To record disposal of copier machine)</em>

8 0
3 years ago
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