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2 years ago

Match each scenario with the step in the home-buying process it describes

Business

2 answers:

Tanzania [10]2 years ago

5 0

1 closing,2 appraisal and 4 prequalification

AnnyKZ [126]2 years ago

5 0

Answer: The correct answers in order are Closing, Appraisal, Inspection and Prequalification.

Explanation: As a person is going through the steps to purchase a home there are a number of steps that will occur.

During the closing Jane has to pay the fees in order to complete the purchase.

The appraisal involves the bank getting an independent value on the home.

During an inspection a license professional may find mold in the basement.

In the prequalification process Jane would have her financial status verified and would get a mortgage estimate.

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After being influenced by frequent advertisements, Jeremy buys a new cell phone. However, he discovers that the new cell phone d

svetlana [45]

Answer: The actual value

Explanation: In simple words, actual value refers to the utility satisfaction that a customer receives after purchasing a product.

The only difference between perceived value and actual value is that while calculating perceived value the customer compares his product with other product . However, while calculating actual value he only compares the existing performance with his or her expectations.

In the given case, Jeremy feels the product he buy is no as useful as he thought. Hence it lacks actual value.

5 0

2 years ago

Great Falls Co's bank reconciliation as of February 28 is shown below $38,153 +745 -35 $37,643 Book balance Bank balance + Depos

lorasvet [3.4K]

Answer:

c. Debit Cash $745; credit Note Receivable $745.

Explanation:

It is very difficult to understand your question since it is typed in a very complex manner. I have attached a screen shot that contains the similar question, it helped me and will help others to understand the data given.

a. This entry has already been recorded in the company's accounts. It should be reconciled with the Bank Account.

b. A miscellaneous expense has been incurred but it was paid and not on credit.

c. Correct Entry. As you can see that a Note Receivable has been collected by bank from customer. So, we have to increase the Cash balance by debiting it and remove the receivables by crediting it.

d. Sales transaction is never a part of Bank Reconciliation.

e. $745 has been collected from customer and not paid to vendor. The amount paid is $1,730 which is already recorded in the Books.

4 0

2 years ago

If the local government tells gas stations that they are not allowed to change the price of gas for three weeks during hurricane

castortr0y [4]

Answer:

The correct answer is B. Consumers will be unable to buy all the gas they want at the temporary price ceiling price.

Explanation:

At the time that the offer is recent for price control, demand can be stimulated by the existence of a more reasonable and affordable price for the consumer, so that there is an excess of demand against supply, which is It would imply that it should result in an increase in prices that should lead to an optimum level or breakeven point being reached at any given time, a situation that will not occur precisely because of price control.

By resenting the offer while increasing demand, despite the possible shortage, this shortage does not result in a price increase that would be normal, precisely due to the hand of the state that prevents free market development , since it restricts one of the factors that energizes it, which is the price.

The price of goods and services, as well as can increase or decrease the supply, can also increase or decrease demand, a game that alone should maintain a price that satisfies both consumers and producers, but when price control is introduced , only consumers will be satisfied, a situation that causes bidders to stop producing.

6 0

2 years ago

Plessings Company leased a piece of machinery to Banana, Inc. on January 1, 2019. The lease is correctly classified as a sales−t

Stells [14]

Answer:

7.49%

Explanation:

n = Number of payment periods = 3

P = Total lease payment = Annual lease payment * Number of period = $20,700 * 3 = $62,100

FV = fair value of the machine = $50,000

Implicit rate = [($62,100 / $50,000)^(1 / 3)] - 1 = 0.0749, or 7.49%

3 0

2 years ago

"Finlon Upholstery, Inc. uses a job-order costing system to accumulate manufacturing costs. The company’s work-in-process on Dec

elena-s [515]

Answer:(1) $1.3 per direct labour cost, (2) $15,360,000 (3) ($82,200) (4) $11,957,000, it is appropriate to include selling and administrative expenses in the cost of good sold because it is the cost incurred when the goods were sold.

Explanation:

Budgeted Manufacturing overhead Cost / Budgeted Total unit in the Allocation Base

= 5,460,000 /4,200,000

= $1.3 per direct labour cost

To calculate the addition to work in process inventory

Raw materials. 5,550,000

Direct Labour. 4,350,000

Allocated manufacturing overhead 5,460,000

-------------------

Work in process inventory. 15,360,000

----------------------

calculate the addition to work in process inventory

Beginning work in process inventory. 156,800

Job no 2143 (Direct materials $154,000, Direct Labour $85,000,) 239,000

-------------

Finished good Inventory (job no 2077) (82,200)

----------

To calculate the over applied overhead or under applied overhead

POAR = Budgeted Manufacturing overhead / Budgeted Direct Labour

= 5,460,000/ 4,200,000

= $1.3 per direct labour × actual activity

= 1.3 × 4,350,000 = 5,655,000

Overhead absorbed = 5,655,000

Actual Overhead incurred - Overhead Absorbed

= 17,612,000 - 5,655,000

= $11,957,000

It is appropriate to include selling and administrative expenses in the cost of good sold category because it is the cost incurred when the goods were sold.

3 0

2 years ago