Answer:
Debit Insurance expense $10,000
Credit Prepaid Insurance $10,000
Being entries to recognize insurance expense for the period (August to December).
Explanation:
Given;
Insurance policy was purchased on July 10 to run for 3 years.
Cost of policy = $72,000
Start date is August 1st. As at 31 December, the policy should have been amortized for 5 months (August to December)
Monthly depreciation = $72,000/(3 × 12)
= $2,000
Total amortization between August and December = 5 × $2,000
= $10,000
Journal entries
Debit Insurance expense $10,000
Credit Prepaid Insurance $10,000
Being entries to recognize insurance expense for the period (August to December).
Source: Net
Find the GCD (or HCF) of numerator and denominator
GCD of 112 and 220 is 4
Divide both the numerator and denominator by the GCD
112 ÷ 4
220 ÷ 4
Reduced fraction:
28
55
In order to <span>create an effective presentation to summarize a PI team's activities PI team members should u</span><span>se large fonts in the presentation so that people can read the boards from a distance.
Also they should map the board in advance with labels for each section.
And third, the presentation should keep detailed information in a team record binder for reference.
</span>
Answer:
A) mortgage pipeline.
B) mortgage
Explanation:
Mortgage banks typically will attempt to sell loans as quickly as possible after they are originated by either issuing mortgage securities or selling the loan to an intermediary that will subsequently sell the loan in the secondary market. The period between loan commitment and loan sale is referred to as the mortgage pipeline.
A mortgage pipeline refers to mortgage loans that are locked-in with a mortgage originator by borrowers, mortgage brokers, or other lenders. <u>A loan stays in an originator's pipeline from the time it is locked until it falls out, is sold</u> into the secondary mortgage market, or is put into the originator's loan portfolio.
