Reverse Mortgage

Shequo asked: John Defreitas is considering the purchase of longterm bonds. He has approached you to assist him in determining the value of bonds to be held for a five year period. The amount ot be invested is $150,000. The bonds are 9% due in 5 years with interest payable annually at year end.

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 reversed. [...]

Lauren F 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 [...]

me asked: @Stefiny, thanks for wasting my time.

daisy s asked: How do you make an amortization schedule if you don’t know the monthly payments. only information given is the amount of said loan and annual interest rate. i don’t know how to use excel if any one can tell me how to do it with equations. Can someone help me Please! I [...]

SAL R asked: I am a hard time understanding this, could you help me understand what a loan amortization schedule is? and how can we use it to determine a loan interest rate?

Ashley asked: anyone know the company that they work for? they say they can do you a cheaper mortgage. i just want the name of the company. Thanks (:

Tropical Joe asked: A Business acquired patent rights on January 3, 2004, for $478,500. The patent has a useful life equal to its legal life of 15 years. On January 5, 2007, the business successfully defended the patent in a lawsuit at a cost of $73,200 ***Determine the patent amortization expense for the current year [...]

LY asked: Is it suppose to be treated as a disposal? Dr Accumulated Amortization Dr Loss on Disposal Cr Equipment Or is it suppose to be something else – like an extraordinary item, etc.? Thanks. Also, if there was insurance coverage for that equipment would it be the same?

John H asked: One of my assignments states that accumulated ammortization is 11,200 and the amortization expenses account has a balance of 9,500. If accumulated amortization can only be recorded (as a credit) with a debit to the amortization expense account, then the amortization expense account should have a balance of 11,200 or greater. Can [...]