Homework Answers
Mortgages payable are secured by a property and the mortgage could be payable is monthly installments which includes both interest and principal.The mortgages could also be paid in lump sum,it depends on the conditions on which mortgages is issued.However mortgages are usually paid in monthly installments.So all the given options are correct.
So Option D is answer
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d. All of these CHICCI. Mortgages payable a. are usually paid in monthly installments. b. have payments that include...
QUESTION 5 Mortgages payable are usually paid in monthly installments. have payments that include both interest...
QUESTION 5 Mortgages payable are usually paid in monthly installments. have payments that include both interest on the debt and reduction in the debt. are secured by real property. All of these choices.
Glen Pool Club, Inc., has a $144,000 mortgage liability. The mortgage is payable in monthly installments...
Glen Pool Club, Inc., has a $144,000 mortgage liability. The
mortgage is payable in monthly installments of $1,481, which
include interest computed at an annual rate of 12 percent (1
percent monthly). a. Prepare a partial amortization table showing
(1) the original balance of this loan, and (2) the allocation of
the first two monthly payments between interest expense and the
reduction in the mortgage’s unpaid balance. b. Prepare the journal
entry to record the second monthly payment. c. Will...
19) 19, A Xerox DocuColor photocopier costing $45,000 is paid off in 60 monthly installments at 7.40% APR. After th...
19) 19, A Xerox DocuColor photocopier costing $45,000 is paid off in 60 monthly installments at 7.40% APR. After three years the company wishes to sell the photocopier. What is the minimum price for which they can sell the copier so that they can cover the cost of the balance remaining on the loan? A) $16,009 B) $28,015 C) $20,011 D) $24,013 20) 20 An investor buys a property for $699,000 with a 25-year mortgage and monthly payments at 7.90%...
Jane’s gross monthly income is $3,300. She is applying for a mortgage loan that will have...
Jane’s gross monthly income is $3,300. She is applying for a mortgage loan that will have a $800 monthly mortgage payment (principal and interest). In addition, property taxes will be $200 per month, and homeowner’s insurance will be $50 per month. Jane’s other debt payments are $150 (car loan) and $100 (minimum payments on credit cards.) Will she qualify for a conventional mortgage loan if her lender requires the mortgage debt service ratio to be no more than 30% and...
D) 7.9% You are considering purchasing a new home. You will need to borrow $270,000 to purchase the home. A mortga...
D) 7.9% You are considering purchasing a new home. You will need to borrow $270,000 to purchase the home. A mortgage company offers you a 20- year fixed rate mortgage at 6 % APR. If you borrow the money from this mortgage company, your monthly mortgage payment will be closest to: 14) A) $3094 B) $1934 C) $1547 D) $2708 5 A bank offers a loan that will requires you to pay 8% interest compounded semiannually. Which of the following...
1. All of the following are reported as current liabilities except a. accounts payable. b. bonds...
1. All of the following are reported as current liabilities except a. accounts payable. b. bonds payable. c. notes payable. d. unearned revenues. 2. The relationship between current liabilities and current assets is a. useful in determining income. b. useful in evaluating a company's liquidity. c. called the matching principle. d. useful in determining the amount of a company's long-term debt. 3. Most companies pay current liabilities a. out of current assets. b. by issuing interest-bearing notes payable. c. by...
Cinstruction Law and Ethics the court the right to resolve the dispute? A. B. C. D....
Cinstruction Law and Ethics
the court the right to resolve the dispute? A. B. C. D. Venue Personal jurisdiction Federal question All of the above 49. Which is not a discovery device? A Request for admissions B. Motion for entry upon land C. Production of documents and things D. Live testimony in court 50. Who is usually the best individual with firsthand knowledge of the facts which gave rise to the claim on a job site? Upper management of the...
10) An investment will pay you 51 20 in one year and $200 in two years....
10) An investment will pay you 51 20 in one year and $200 in two years. If the interest rate is 7%, what is the present value of these cash flows? A) $294.69 B) $286.84 C) $299.07 D) $320.00 10) 11). TU) A bank is negotiating a loan. The loan can either be paid off as a lump sum of $120,000 at the end of five years, or as equal annual payments at the end of each of the next...
10) An investment will pay you S120 in one year and $200 in two years. If...
10) An investment will pay you S120 in one year and $200 in two years. If the interest rate is 7%, what is the present value of these cash flows? A) S294.69 B) $286.84 C) $299.07 D) $320.00 11. A bank is negotiating a loan. The loan can either be paid off as a lump sum of $120.000 at the end of five years, or as equal annual payments at the end of each of the next five years. If...
Supplemental Questions 1. What will be the balance in the Mortgage Payable Account at Jan. 31,...
Supplemental Questions 1. What will be the balance in the Mortgage Payable Account at Jan. 31, 2018 after the second monthly payment is made? 2. The Company is about to issue $2,000,000 of 5-year, 12% bonds. Interest will be paid semi- annually. The market interest rate for such securities is 10%. How much can The Company expect to receive from the sale (issuance) of these bonds? Financial Statement Homework #3 Name YOU MUST SUBMIT ALL HANDWRITTEN PAGES OF THIS DOCUMENT...
QUESTION 5 Mortgages payable are usually paid in monthly installments. have payments that include both interest on the debt and reduction in the debt. are secured by real property. All of these choices.
Glen Pool Club, Inc., has a $144,000 mortgage liability. The
mortgage is payable in monthly installments of $1,481, which
include interest computed at an annual rate of 12 percent (1
percent monthly). a. Prepare a partial amortization table showing
(1) the original balance of this loan, and (2) the allocation of
the first two monthly payments between interest expense and the
reduction in the mortgage’s unpaid balance. b. Prepare the journal
entry to record the second monthly payment. c. Will...
19) 19, A Xerox DocuColor photocopier costing $45,000 is paid off in 60 monthly installments at 7.40% APR. After three years the company wishes to sell the photocopier. What is the minimum price for which they can sell the copier so that they can cover the cost of the balance remaining on the loan? A) $16,009 B) $28,015 C) $20,011 D) $24,013 20) 20 An investor buys a property for $699,000 with a 25-year mortgage and monthly payments at 7.90%...
D) 7.9% You are considering purchasing a new home. You will need to borrow $270,000 to purchase the home. A mortgage company offers you a 20- year fixed rate mortgage at 6 % APR. If you borrow the money from this mortgage company, your monthly mortgage payment will be closest to: 14) A) $3094 B) $1934 C) $1547 D) $2708 5 A bank offers a loan that will requires you to pay 8% interest compounded semiannually. Which of the following...
Cinstruction Law and Ethics
the court the right to resolve the dispute? A. B. C. D. Venue Personal jurisdiction Federal question All of the above 49. Which is not a discovery device? A Request for admissions B. Motion for entry upon land C. Production of documents and things D. Live testimony in court 50. Who is usually the best individual with firsthand knowledge of the facts which gave rise to the claim on a job site? Upper management of the...
10) An investment will pay you 51 20 in one year and $200 in two years. If the interest rate is 7%, what is the present value of these cash flows? A) $294.69 B) $286.84 C) $299.07 D) $320.00 10) 11). TU) A bank is negotiating a loan. The loan can either be paid off as a lump sum of $120,000 at the end of five years, or as equal annual payments at the end of each of the next...
10) An investment will pay you S120 in one year and $200 in two years. If the interest rate is 7%, what is the present value of these cash flows? A) S294.69 B) $286.84 C) $299.07 D) $320.00 11. A bank is negotiating a loan. The loan can either be paid off as a lump sum of $120.000 at the end of five years, or as equal annual payments at the end of each of the next five years. If...
Supplemental Questions 1. What will be the balance in the Mortgage Payable Account at Jan. 31, 2018 after the second monthly payment is made? 2. The Company is about to issue $2,000,000 of 5-year, 12% bonds. Interest will be paid semi- annually. The market interest rate for such securities is 10%. How much can The Company expect to receive from the sale (issuance) of these bonds? Financial Statement Homework #3 Name YOU MUST SUBMIT ALL HANDWRITTEN PAGES OF THIS DOCUMENT...
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