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2 years ago

What term best describes the borrower who is personally liable for a debt obligation related to the purchase of a home?.

1 answer:

7 0

It can be deduced that a situation where the borrower is personally liable for a debt obligation when buying a home is known as a recourse loan.

<h3>What is a recourse loan?</h3>

It should be noted that a recourse loan simply means a situation when the borrower is personally liable for payment of all amounts that are due under the terms of the note.

In this situation, when a property that is encumbered by a mortgage is sold for an amount that is more than the value of the mortgage, then the mortgagor will not be obligated to pay the mortgagee the balance that's remaining.

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___, born during the Great depression, grew froma need to understand the entire economy and to provide guidance on how to manage

castortr0y [4]

Answer:

Macroeconomics.

Explanation:

It is defined to be a branch of economies that studies the behaviour and performance of an economy, this is done by aggregating it, taking a reasonable forecast with its recent happenings, investments and economic rise and falls and also the

Put simply, it focuses on the way the economy performs as a whole in its decision making processes. These variables that are been looked at includes the likes of unemployment, GDP, and inflation. Experts are seen to provide models that are used in explanations on the listed factors in tackling economic imbalance of the said country's economy.

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3 years ago

Johnson Waterworks Company provides plumbing services. The company is a sole proprietorship. Transactions during the first year

emmasim [6.3K]

Answer:

Given:

Contributed $12,000 cash in exchange for capital,

Paid $1,000 for equipment to be used for plumbing repairs,

Borrowed $11,000 from a local bank and deposited the money in the checking account,

Paid $200 in rent for the year,

Paid $300 for plumbing supplies to be used on various jobs next year,

Completed a plumbing repair for a law firm and received $2,900,

The plumbing supplies of $ 300 are left at the end of the year.

<u><em>Total assets at the end of the first year = $25,700</em></u>

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2 years ago

Stormy Weather has no attractive investment opportunities. Its return on equity equals the discount rate, which is 10%. Its expe

Temka [501]

Answer:

Assume that the Plow back Ratio is 50

Now,

To Compute the growth rate;

Growth rate = Return on equity × Plow back ratio

Growth rate = 10% × 0.50

Growth rate = 5.0%

Computation of the stock price.

Stock price = Dividend pa share / (Required rate - Growth rate)

Stock price = Earnings pa share × (1 - Plow back ratio) / (Required rate -Growth rate)

Stock price = $4 × (1 - 0.50) / (10% - 5.00%)

Stock price = $2.00 / 5.00%

Stock price = $40

Computation of the P/E ratio.

PIE ratio = Stock price / Earnings pa share

PIE ratio = $40 / $4

PIE ratio = $10

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3 years ago

Farr Company purchased a new van for floral deliveries on January 1, 2020. The van cost $56,000 with an estimated life of 5 year

marta [7]

Answer:

The balance of the Accumulated Depreciation account at the end of 2021 is $26,880

Explanation:

Under the straight-line method, useful life is 5 years, so the asset's annual depreciation will be 20% of the Depreciable cost.

Depreciable cost = Total asset cost - salvage value = $56,000-$14,000 = $42,000

Under the double-declining-balance method the 20% straight line rate is doubled to 40% - multiplied times the Depreciable cost's book value at the beginning of the year.

Depreciation expense for 2020 = 40% x $42,000 = $16,800

At the beginning 2021, the Depreciable cost's book value is $42,000-$16,800 = $25,200

Depreciation expense for 2021 = 40% x $25,200 = $10,080

The balance of the Accumulated Depreciation account at the end of 2021 = $16,800 + $10,080 = $26,880

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3 years ago

Baldwin has a new design for their product Bill next round that can reduce their material cost of producing units from $8.14 to

zalisa [80]

Answer:

Hie, the information you have provided is incomplete.

However important information is explained as follows :

To calculate Break - even Point use the formula;

Break even Point (units) = Total Budgeted Fixed Costs / Contribution per unit

<em>Break even Point</em> is the level of operation at which a firm neither makes a profit nor a loss.

Contribution is Calculated as :

Sales : No information xxxx

Less Variable Costs ( Materials + Labor) $11,49

Contribution per unit xxxx

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3 years ago