Answer:
The correct answer is letter (3): Apply for mortgage; Purchase homeowners insurance; Do final walk-through; Sign closing documents.
Explanation:
The home closing process starts as soon as the buyer signs the contract with a real estate agent. In such a case, the buyer has had to apply and be accepted for a <em>mortgage </em>to cover the expenses of the property. Lenders require buyers to present <em>homeowners' insurance</em> which apart from being a requirement is important for the buyer and the financing entity.
Then, buyers must do a <em>final walk-through</em> of the home before they take possession of it to make sure it is in the conditions sellers offered. Finally, <em>additional documents </em>are signed such as a homestead declaration that registers the property with the federal and state government.
Answer:
Poor
Explanation:
Automation has made certain jobs redundant and machines can now carry out most of the functions usually carried out by labour. As a result, the prospects for many types of jobs is low
Answer and Explanation:
The preparation of flexible budget report is shown below:-
Xion CO.
Flexible budget report
Flexible budget Actual results Variances Favorable/
Unfavorable
Sales $864,000 $885,000 $21,000 Favorable
(10,800 × $80)
(-) Variable
cost $378,000 $351,000 $27,000 Favorable
(10,800 × $35)
Contribution $486,000 $534,000 $48,000 Favorable
(-) Fixed cost $270,000 $285,000 $15,000 Unfavorable
Net income $216,000 $249,000 $33,000 Favorable
Answer:
$500 favorable
Explanation:
Given;
Number of units produced = 10,800 units
Actual indirect material costs = $13,000
Reflected indirect material costs for 144,000 units = $180,000
Now,
Per unit reflected indirect material costs = $180,000 ÷ 144,000
= $1.25 per unit
Therefore,
Budgeted indirect material cost for actual units produced
= $1.25 × 10,800
= $13,500
since,
the budgeted cost for indirect material cost for actual units produced is more than the actual indirect material cost, therefore
the indirect material costs in October is favorable
amount = Budgeted cost - Actual cost
= $13,500 - $13,000 = $500 favorable
Answer:
Explanation:
Outstanding number of days is the period over which the loan balance remains unpaid. Since this loan earns 5% interest, required adjusting entry for this company would be to Debit<em> interest expense</em> <em>account</em> and Credit the interest <em>payable account. </em>It is an accounting requirement that all expenses be debited . On the other hand, interest payable is the amount that a company owes a lender and is therefore credited as the corresponding journal entry to the interest expense .
