Reverse Mortgage

Sally M asked: ok heres the EXACT question. HOW does the change from monthly to weekly payments reduce the amortization period?

marialynnhitts asked: the only other additional information i have is the amortization schedules of the vehicles and the building…what do i do with those and how do i create a set of financial statements from just the trial balance info??

laura asked: Isolution Company acquired patent rights on January 4, 2007, for $750,000. The patent has a useful life equal to its legal life of 15 years. On January 7, 2010, Isolution successfully defended the patent in a lawsuit at a cost of $90,000. a. Determine the patent amortization expense for the current year ended [...]

freezie asked: Let’s say there is $600,000 worth of Equipment. This equipment uses a “Declining Balance of 20%”. Does this mean the $600,000 is x against 20% to get that yearly amortization, or will it be multiplied by 40%?

Tony asked: Company A had net sales of $90,000 over the past year. It’s operating costs (excluding depreciation) were $65,000, and its depreciation expense was $7,000. The company has no amortization charges, but it does have $30,000 worth of debt at a 10% annual interest rate. If the firm’s rate is 40%, how much net [...]

Angel L asked: what’s the amortization method used by Danier Leather Inc. Need easy, simple answer. Thanks a lot O(?_?)O~

Drew asked: i’m studying for a final exam here and trying to learn amortization and it’s formula for the first time (missed the day in class) using the amortization formula… -Find the payment needed to amortize a loan for $2500 at 8% compounded quarterly with 6 quarterly payments. I just need an example of this [...]

nic asked: The instructions are to prepare a bond amortization table using the straight line method. Bond Face Value: 100,000 Length of Bond: 15 years Interest payments per year: 2 times per year on June 30 and Dec 31 Bond Selling at: 102 Contract rate: 5%/year Beginning Carrying Value: 102,000 Interest Expense: 2,433.33 Interest Payable: [...]

myname_isalbert asked: Say I need to record the amortization cost of 2 different copyrights. Do I just put them into the same copyright account or should I use separate ones?

Czarina asked: (Continued) Loan B interest and principal will be paid at maturity in 15 months. Interest on both loans is accrued at the end of the month. Which adjusting journal entry(entries) is(are) reversed as of the beginning of the following month? a. Loan B only should be reversed. b. Loan A only should be [...]