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2 years ago

5

Which clause in a mortgage allows a lender to increase the interest rate? A.) Defeasance B.) Escalation C.) Acceleration D.) Exc

ulpatory

1 answer:

Wittaler [7]2 years ago

5 0

Answer:

A

Explanation:

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The Benson Bearing Company sells Textron, Inc. a quantity of baseball bats that were stored in an independent warehouse at the t

polet [3.4K]

Answer:

at the time it receives a negotiable warehouse receipt for the bats.

Explanation:

Benson Bearing Company is selling bats to Textron inc. The bats are stored at an independent warehouse not controlled by Benson Company.

Of the contract states that Textron will pick up the bats at the warehouse, the risk of loss passes to Textron when it recieved a negotiable warehouse reciept for the bats.

This is because the warehouse is not controlled by Benson Company and issuing a warehouse reciept is equivalent to delivering the goods to Textron.

7 0

2 years ago

According to the video, Industrial Production Managers need which qualities? Check all that apply.

zepelin [54]

Answer: ability to handle stress

desire for responsibility

Explanation:

Industrial production managers are the individuals who oversee the daily operations of the plants in an organization.

They are responsible for the coordination, and the planning of the activities that are used in the creation of different goods.

According to the video, the qualities needed by Industrial Production Managers include the ability to handle stress and the desire for responsibility.

7 0

2 years ago

Read 2 more answers

On January 1, Wei company begins the accounting period with a $48,000 credit balance in Allowance for Doubtful Accounts. a.On Fe

11111nata11111 [884]

Answer:

a. journal entry to write off those two accounts

Bad Debts $10,400 (debit)

Oakley Co $2,700 (credit)

Brookes Co $7,700 (credit)

<em>Being write off of Oakley Co and Brookes Co</em>

b. entries to reinstate the account and record the cash received

Oakley Co $2,700 (debit)

Bad Debts $2,700 (credit)

<em>Being reinstatement of Oakley Co account</em>

Cash $2,700 (debit)

Oakley Co $2,700 (credit)

<em>Being record of the cash received</em>

Explanation:

a. journal entry to write off those two accounts

Recognize a Bad Debts expense and de-recognize the assets - Trade Receivables

b. entries to reinstate the account and record the cash received

Recognize the assets-Account Receivable and de-recognize the Bad Debt expense

Also, Recognize the Assets of Cash and De-recognize the Trade Receivables as a results of receipt of payment.

6 0

2 years ago

Read 2 more answers

Tom and cindy lewis are buying a house with a $300,000 sales price and their ltv will be 80%. assume that they paid no originati

dlinn [17]

Answer: Tom and Cindy paid 1.5 discount points.

House Value = $300,000.

Loan-to-Value Ratio (LTV) = 80%

Since LTV is 80%, the total loan (mortgage) value is :

$Mortgage Value = House Value * LTV$

$Mortgage Value = $240,000 (300,000*0.80)$

In the real estate context, a point refers to one percent (1%) of the mortgage amount. There is no rule that these points should be in whole numbers.

We can find the number of points paid as follows:

$No. of points paid = (Value of points in dollars /Value of mortgage) *100$

$No. of points paid = (\frac{3600}{240000} )* 100 [/tex][tex] No. of points paid = 1.5 points.$

There are two types of points:

Discount Points: are actually pre-paid interest on the mortgage loan, and help in lowering the interest rate on the mortgage.
Origination points : help in covering the costs incurred by the lender in processing the loan.

7 0

2 years ago

Anastasia was trying to decide which investment plan would be best over 10 years. Bank A was offering 8.5% simple interest on he

mario62 [17]

Answer: Bank B is the better investment. In 10 years, her $2,000 will grow to $4,317.85, and with bank A, her $2,000 will grow to $3,700.

Explanation:

Bank A was offering 8.5% simple interest. $2000 with 8.5% simple interest. = A = P(1 + rt)

A = 2000(1+(0.085*10))

= 2000(1+0.85)

= 2000(1.85)

= 3,700

Bank B was offering 8% compounded annually

= A = P(1+r/n)^nt

A= 2000(1+8%/1)^1*10

A= 2000(1+0.08)^10

A= 2000(1.08)^10

A= 2000*2.1589

= 4,317.85

8 0

2 years ago

Read 2 more answers