Tommy agrees to buy a house for $84,500. He pays $2,000 as earnest money and obtains a new mortgage loan for $67,600. The purchase contract provides for a Mar. 15 settlement. Tommy and the sellers prorate the present year's real estate taxes of $1,880.96, which have been paid. The buyer is responsible for the day of closing. Tommy has additional closing costs of $1250. Using the "actual number of days" method, how much cash must Tommy bring to the settlement?

Answers

Answer 1

Answer: $17,654.97

Explanation:

In order to solve the question, the first thing to do is to count the number of days from March 15 to Dec. 31. In this case, we will have 292 days.

Then we get the daily rate which will be:

= $1,880.96/365

= $5.153.

Then, we multiply the daily rate of $5.153 by the number of days which will be:

= $5153 × 292 days

= $1,504.97.

Then, we calculate the down payment, which will be:

= $84,500 - $67,600

= $16,900

We then deduct the $2,000 that has already been paid. This will be:

= $16900 - $2000

= $14900

Adding together all the values then the total cash that Tommy must bring to the settlement will be:

= $14900 + $1,504.97 + $1,250

= $17,654.97


Related Questions

What do banks pay to their savings account customers?
● A. Interest 《《
○ B. Profits
○ C. Commission
○ D. Dividends​

Answers

Customers of banks' savings accounts receive interest payments. As a result, choice (A) is the right answer.

What is interest rate?

An interest rate is the sum of interest that is accrued each period as a percentage of the principal amount that has been lent, deposited, or borrowed.  The total interest on a loaned or borrowing sum is calculated by the principal amount, the interest rate, the regularity of compounding, and the period of time the loan, deposit, or borrowed took place.

The rate calculated over a year is the annual interest rate. Other interest rates, such as monthly or daily rates, also apply but are typically annualized. The borrower is prepared to pay a fee—the interest rate—for the right to receive money sooner rather than later if they need it or desire it.

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Gidgits Galore has been busy during this lesson continuing its expansion plans throughout the United States. After all, everyone must have a gidgit, the "must-have" gadget! Gidgits Galore has opened up stores in ten new states, hired hundreds of new employees, built two additional factories, and started an advertising campaign that has caught the US by storm! Its expansion has been featured in news magazines across the country. But Gidgits Galore has encountered a few problems and needs some advice.

Gidgits Galore is concerned about hiring employees from other countries whose language skills may not be proficient and is considering hiring only native English speakers. Is this a good idea?
yes
no

Answers

Answer:

No

Explanation:

Edge 2021

Answer:

NO    edge 2023

Explanation:

the directors want to give R500 000 to a local school.Give Two reasons why companies take such decision.​

Answers

Answer:

To make investments that will grow over time and provide education for less fortunate children

To have a good public image so they can get more customers.

Which of the following management orientations accurately characterizes a company that bases its decisions primarily on market research?

A. Ethnocentric orientation

B. Polycentric orientation

C. Reglocentric orientation

D. Geocentric orientation

Answers

Answer: Geocentric orientation

Explanation:

The management orientation that accurately characterizes a company that bases its decisions primarily on market research is the geocentric orientation.

A company that uses a geocentric orientation sees the whole world as a global market. We should note that a geocentric company makes its products and develops a marketing mix that's standardized for the global market.

Which of the following is NOT intellectual property?
A a new office building
B. the design for the building
C. a painting of the building
D. software used inside the building

Answers

Answer:

software used inside the building

Differentiate between GVA at basic prices and expenditure on GDP at market price

Answers

Answer:

Explanation:However, GVA at basic prices will include production taxes and exclude production subsidies available on the commodity. On the other hand, GVA at factor cost includes no taxes and excludes no subsidies and GDP at market prices include both production and product taxes and excludes both production and product subsidies

explain the different levels of specialization.​

Answers

There are two types of specialisation:

structural specialisation (topic or map level)

and domain specialisation (element level).

The management accountant at Light Manufacturing oversees the company's day-to-day operations at the firm. The management accountant observed that the company generated $800,000 in product sales and the management accountant uses that information to run the daily business operations. The information is also to the management accountant because the data reveals which products generate the most sales; and, the management accountant uses that information to adjust products and develop the marketing strategy.Which of the following management accounting responsibilities is the management accountant using in this example?a)designingb)controllingc)planningd)implementinge)directing

Answers

Answer:

e)directing

Explanation:

Directing is a management function that entails the instruction, guidance, and oversight of business activities with an aim of meeting set goals and objectives.

In the given scenario the management accountant adjusted products and developed marketing strategy by observing that the company generated $800,000 in product sales, also he discovered which products are selling most.

This information was used in the daily running of the business.


Human resources can be categorized into ____ groups?

5

3

2

4​

Answers

Answer:

The real answer is 7. But 5 is an answer in this case

Explanation:

Internet privacy has become a major issue. In fact, in Europe there are privacy laws to limit how much information websites can collect from users without their permission. The United States does not have comparable laws to protect consumer privacy on the Internet. Collecting this information is beneficial for firms because then they can tailor marketing messages that better fit its users' needs. These better marketing campaigns can provide them with a competitive advantage. Acme Corporation uses cookies and other devices to collect information. Its privacy policy explicitly informs users that it collects information. However, most people do not read through the policy. Lately, some consumers have complained because they are worried that their information could be compromised. They question the security of the site. Acme wants to restore confidence and prove that it has controls in place. Refer to Scenario 3.2. What type of environmental force does this issue involve?

Answers

a. Greyhound bus system

look at the picture ​

Answers

Okay, Lets get started.

For number one lets make a company named "Bluberry"

One way we use technology is for creating our websites, Employing people, and to talk to our workers.

2. BlueberryBoss and BerryPIcker

The rest I have no Idea how to help with.

URGENT 20poinThe income of the individual falls under one main category​

Answers

Answer:

ok

Explanation:

ok what's the questioned

Answer:

Explanation:

Earned Income. The first type of income is the most common: earned income.

Capital Gains Income. The next type of income that you can earn is called capital gains income.

Passive Income. The final type of income that you can earn is called passive income.

Nov 25, 2019

Type of energy classified as solids

Answers

kinetic energy
In a solid, particles are packed tightly together so they don't move much. The electrons of each atom are constantly in motion, so the atoms have a small vibration, but they are fixed in their position. Because of this, particles in a solid have very low kinetic energy.

What do smart companies do to account for depreciation?

A. lower their prices

B. locate cheaper vendors

C. put money in savings

D. purchase an insurance policy

Answers

Smart companies in a bid to account for depreciation put money in savings. Option C

This is further explained below.

What is depreciation?

Generally, The word "depreciation" is used in the field of accounting to refer to two different facets of the same concept: first, the real decline in the market value of an asset over time, for as the annual decline in the value of a manufacturing facility's equipment.

In conclusion, Companies that are financially savvy put money into savings in order to accommodate for depreciation. Alternative C

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Bramble Corp. has $3960000 of 9% convertible bonds outstanding. Each $1,000 bond is convertible into 30 shares of $30 par value common stock. The bonds pay interest on January 31 and July 31. On July 31, 2021, the holders of $1250000 bonds exercised the conversion privilege. On that date the market price of the bonds was 106 and the market price of the common stock was $37. The total unamortized bond premium at the date of conversion was $289000. Bramble should record, as a result of this conversion, a

Answers

Answer: Credit of $217480 to Paid-in Capital in Excess of Par

Explanation:

The following information is given in the question as:

Debit: Bonds payable = $1,250,000

Debit: Premium on bonds payable = $92480

Credit: Common stock = $1,125,000

Credit: Paid in capital in excess of Par = $217480

The above were calculated as:

Common stock = ($1250,000/$1,000) × 30 × 30

= $1250 × 90

= $1,125,000

% Conversion will be:

= $1,250,000 / $3960000 = 0.32

Unamortized bond premium will then be:

= 0.32 × $289,000

= $92,480

Paid in capital in excess of par will be:

= $1,250,000 + $92,480- $1,125,000

= $217,480

Therefore, the answer will be to

"Credit of $217480 to Paid-in Capital in Excess of Par"

A company faces two kinds of risk. An example of a firm-specific risk is the risk that a competitor might enter its market and take some of its customers. An example of a market risk is the risk that the economy might enter a recession, reducing sales. True or False: The company's shareholders would more likely demand a higher return due to the stock's firm-specific risk because it affects only that particular stock.

Answers

Answer:

true

FALSE

Explanation:

Systemic risk are risk that are inherent in the economy. They cannot be diversified away. They are also known as market risk. examples of this risk include recession, inflation, and high interest rates. Investors should seek compensation for systemic risk. Systemic risk is measured by beta. The higher beta is, the higher the systemic risk and the higher the compensation demanded for by investors

Non systemic risk are risks that can be diversified away. they are also called company specific risk. Examples of this type of risk is a manager engaging in fraudulent activities.

Dalia Ramirez Anchondo deposits $ 200 into her savings annuity every paycheck. She gets paid weekly. The credit union will pay Dalia 4% compounded quarterly. What is the future value of Dalia in 4 years.


Help me!!!!

Answers

Answer: $41,418.96‬

Explanation:

There are four quarters in a year and the interest rate is a yearly rate that should be converted to a quarterly rate:

= 4% / 4

= 1%

Delia gets paid $200 a week. There are 12 weeks in a quarter so the quarterly contribution is:

= 200 * 12

= $2,400

The number of quarters she invests is:

= 4 * 4years

= 16 quarters

As this payment is constant, it is an annuity.

Value after 4 years will be:

= Annuity * Future value interest factor of annuity, 1%, 16 periods

= 2,400 * 17.2579

= $41,418.96‬

Calico Company has two operating departments: Department A and Department B. Department A occupies 30% of the floor space of the company but accounts for 75% of the sales of the company. Department B occupies 70% of the floor space of the company but accounts for 25% of company sales. Cleaning expense (an indirect expense of the company), which consists primarily of vacuuming the carpet is $30,000 each year. How much cleaning expense should be allocated to Department B

Answers

Answer: $21000

Explanation:

Based on the information given in the question, the cleaning expense should be allocated to Department B will be the percentage of floor space occupied by Department B multiplied by the cleaning expense. This will be:

= 70% × $30,000

= 70/100 × $30,000

= 0.7 × $30,000

= $21000

what does NBT stand for?
For Life Orientation

Answers

Demystifying the NBTs | National Benchmark Test Project.

The NBT stands for National Benchmark Test.

What is NBT  (National Benchmark Test)?

NBT stands for National Benchmark Test. This is an examination set up by the National Benchmark Test Project The NBT test is a set of tests used to assess a learner’s academic literacy, general knowledge, and mathematical skill in an effort to measure academic readiness for university.

The NBT tests were implemented in 2008 and are managed by the Alternative Admissions Research Project at the University of Cape Town. NBT results are used by many universities as an extra admission criterion for applicants to their institutions.

They serve to complement and support, rather than replace or duplicate NSC results. The National Benchmark Tests (NBTs) is known to be a kind of assessment test that is given to first-year applicants to higher education.

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Why are cooperatives formed?

Answers

To work together for the greater good of a community.
Be us to people can work together to the the same output with less work

630-689
Fair
690-719
Good
300-629
Bad
720-850
Excellent
Which of the following is most likely true for a person with a credit score of 600?
A) That person will find it easy to get a loan
B) That person will find it difficult to get a loan
C) That person's loan will likely have high interest rates
D) That person will probably not have to make very high monthly payments

Answers

Answer:

b

Explanation:

our score falls within the range of scores, from 580 to 669, considered Fair. A 600 FICO® Score is below the average credit score. Some lenders see consumers with scores in the Fair range as having unfavorable credit, and may decline their credit applications.

Dean Ayers, who was the Department Chair of the Accounting Dept. before he became Dean of Terry College, is an example of external recruiting, the advantages of which are that
(i) the new hire already knows company culture, background, and products;
(ii) the new hire can make a quicker and more meaningful impact in the new role;
(iii) demonstrates to other employees a potential career path that allows growth and development; and
(iv) the firm already is aware of the skills and potential of the candidate when making the hiring decision

Answers

Answer:

(ii) the new hire can make a quicker and more meaningful impact in the new role;

Explanation:

Because there are so many options in the transportation industry, you don’t really need any goals or plans when you enter it.

True
False

Answers

Answer:

i would say false because u always need goals in your life

Explanation:

when you create a professional ____, you are creating a version of yourself you want employers and other professionals to see.

Answers

Answer:

Appearance

Explanation:

Hope this helps;)

Select the correct answer from each drop-down menu.

Fill in the correct terms to complete the description of Mischa going through the home-buying process Mischa wants to buy a home.

She has looked at the housing market. Now she needs to find a ______ to become _______ for a mortgage. By doing so, Mischa will know how much she has to spend on a house.

A.real estate agent
B.lender
C.closeing company
D.title company

a.eligible
b.wait listed
c.credit checked
d.prequalified ​

Answers

Answer:

C

Explanation:

C

Monica recently got a promotion to a management role with greater scope and responsibility. She wants to be as effective as possible in her new job. Which of the following could help her improve her ability to manage her new subordinates?
A) Updating her résumé as an exercise to reflect on her career path to date and what her next step should be
B) Taking an extension class in how to read a company’s financial statements
C) Reflecting on the effects of her past actions to evaluate how they affected herself and others
D) Understanding that her management style has gotten her a promotion so she should not change anything

Answers

Answer:

C) Reflecting on the effects of her past actions to evaluate how they affected herself and others

Explanation:

A manager can be defined as an individual who is saddled with the responsibility of providing guidance, support, supervision, administrative control, as well as acting as a role model or example to the employees working in an organization by being morally upright.

Generally, managers are typically involved in taking up leadership roles and as such are expected to be build a strong relationship between their employees or subordinates by creating a fair ground for effective communication and sharing of resources and information. Also, they are required to engage their staff members (entire workforce) in the most efficient and effective manner.

In this scenario, Monica recently got a promotion to a management role with greater scope and responsibility. She wants to be as effective as possible in her new job. Thus, what could help her improve her ability to manage her new subordinates is reflecting on the effects of her past actions to evaluate how they affected herself and others.

Generally, having a reflection on past decisions and actions would help anyone in a leadership position to assess or evaluate how they have affected their organization, subordinates and themselves either positively or negatively.

Question 7 of 10
Why might employee education be an important step in preventing security
breaches?
A. Some employees are tempted to sell their employer's intellectual
property
B. Many security breaches occur as a result of ignorance or
carelessness.
C. Education improves employee morale.
D. Disgruntled employees are often the source of security breaches
SUBMIT

Answers

Answer:

Explanation:

B

Many security breaches occur as a result of ignorance or carelessness: be an important step in preventing security breaches. Thus, option B is the correct option.

What is a security breach?

Any occurrence that allows unauthorized access to computer data, applications, networks, or devices is referred to as a security breach. As a result, unapproved access to information occurs. Usually, it happens when a burglar is able to get past security measures. There is a difference between a security breach and a data breach technically. A data breach occurs when a cybercriminal escapes with information, whereas a security breach is essentially a break-in.

Consider a burglar; the security breach would be when he scales the window, and the data breach would be if he took your laptop or purse. Information that is confidential has great value. Names and credit card numbers, for instance, may be purchased on the dark web and used for the purposes of identity theft or fraud.

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Luis and Margo are both candidates for a housekeeping job at a major hotel. The selection process includes having applicants demonstrate their ability to clean a room quickly. The work sample is graded by a housekeeping supervisor. Margo was turned down for the job because she scored below 70 on the assessment. The hotel requires all employees to be retested every year and Margo knows that two of her cousins who work for the hotel get scores that vary significantly from year to year, depending on the supervisor doing the scoring. Margo contends that this employment test does not seem to have ______________.

Answers

Answer: reliability

Explanation:

Since Margo knows that two of her cousins who work for the hotel get scores that varies from year to year, depending on the supervisor doing the scoring, thus shows that the employment test isn't reliable.

The differences in the scores shows that it's not reliable. Reliability has to do with trust. In this case, it's not trustworthy.

What is the first thing a company should do after determining a business need?

A. locate a vendor

B. fill out a purchase order

C. submit an invoice

D. choose a specific product

Answers

Answer:

A :locate a vendor

Explanation:

you can fill vendor fields on the purchase invoice in two ways depending on whether the vendor is already registered .

The locate a vendor, is the first thing a company should do after determining a business need. Thus, option (a) is correct.

What is business?

The term business refers to the earning the profit. The business is the taking the risk and the earning the profit. The business are the mainly focuses to the activity of the creating, distribution and selling concept based.

The first step in locating a vendor was to determine the core operational services that your company will require. It is critical to establish and maintain strong vendor partnerships for customer service, cost effectiveness, quality, and market expansion. Vendors, as business allies, can play a critical role in an organization's success or failure.

As a result, to locate a vendor, is the first thing a company should do after determining a business need. Therefore, option (a) is correct.

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How do I prepare and balance the personal accounts appearing in the ledgers of small moon enterprises as at December 31,210

Answers

Answer:

For each account title shown on your sales and cash receipts journal columns and ... The sum of all general ledger debit balances should always equal the sum of all ... of business, you will use many, but probably not all, of these account names.Explanation: For each account title shown on your sales and cash receipts journal columns and ... The sum of all general ledger debit balances should always equal the sum of all ... of business, you will use many, but probably not all, of these account names.

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NEED ANSWER45 inch board cut into three pieces so that the second piece is 3 times as long as the first piece and the third piece is 5 times as long as the first piece . find the lengths of all three pieces Write down the x-coordinate of the point where y=x2-x and y=x+1 cross Low doses of alcoholthe recovery from glare.A. don't affectB. prolongC. speed up Prepare journal entries to record each of the following sales transactions of EcoMart Merchandising. EcoMart uses a perpetual inventory system and the gross method. Oct. 1 Sold fair trade merchandise for $2, 600, with credit teres n/30; invoice dated October 1. The cost of the nerchandise is $1,450 which had cost $145, is returned to inventory of the merchandise is $890 6 The customer in the October 1 sale returned $260 of fair trade merchandise for full credit. The merchandise, 9 Sold recycled leather merchandise for $1, 250, with credit terms of 1/10, n/30; invoice dated October 11 Received payment for the amount due from the October 1 sale less the return on 0ctober 6. Why was it so important for Abraham Lincoln to keep the border states neutral?Group of answer choicesthey would help the south if they joinedthey were close to Washington DCthey had lots of suppliesall are true The total area of the parallelogram and the triangle is 160 square meters. Findthe value of x. The asking price for homes on the real estate market in Baltimore has a mean value of $286,455 and a standard deviation of $11,200. The mean and standard deviation in asking price for homes in Denver are $188,468 and $8,230, respectively. Recently, one home sold in each city where the asking price for each home was $193,000. Assuming that both distributions are bell-shaped, which of the following statements is true? A) The Deriver home has a higher standard z-value. B) The Baltimore home has the higher standard z-value. C) Both cities have the same coefficient of variation D) By The coefficient of variation for Denver is less than for Baltimore. E) Bo brak In a class of 30 students, 6 have a brother and 12 have a sister. There are 14 students who do not have any siblings. What is the probability that a student chosen randomly from the class has a brother and a sister? Escoge.__________construyen casas y hacen muebles.A)Los carpinterosB)Los cajerosC)Los gerentesD)Los abogados 5. A trapezoid has a base of 20 inches and 30 Inches. The height of the trapezoid is 15inches. What is the area of the Trapezoid in square inches? whats the answer a b c and d? Distribute and simplify these radicals. 23-(V+ 3) O 2V5 + 6 02/15 O 30 O 6/2+6 A storage box has a volume of 56 cubic inches, and the base of the box is 4 inches by 4 inches.What is the height of the box? Simplify (8.3) 2.10.(6-1) Collin is building a deck on the back of his family's house. He has enough lumber for the deck to be 75square feet. The length should be 10 feet more than its width. The situation can be represented by w2+ 10w - 75 = 0. What should the width of the deck be?A. 15B. -5C. -15D. 5 Two apples and six plums provide 300 calories. Three apples and five plums provide350 calories. How many calories are provided by five apples and eight plum? Which of the following is NOT a component of skill-related fitness?A.balanceB.speedC. PowerD. Heart rate Express as a single power in base 5.125 x 5^19X (25)3 ??? Answers please..... Please help I need a quick answer