Xmastips Mortgage and Loan » huge

Huge spread in homeowners quotes — is this normal?

admin — Fri, 01 Jul 2011 23:29:11 +0000

I’ve just purchased a house, and I am getting quotes for homeowners insurance. For identical coverage policies, I’ve gotten quotes ranging from $ 820 to $ 1430 a year. All from reputable insurance firms. Is this normal? I would obviously want to go with the lowest cost one, but are there any risks I’m overlooking? A 50% difference seems odd to me.

Thanks!

Huge accounting question, entire accounting process involved.?

admin — Fri, 24 Jun 2011 17:29:10 +0000

I have messed this up so badly. Here are the details. I know it’s a lot so any help at all is appreciated.

1 Plume invested $ 30,000 in cash and buildings worth $ 150,000 in the business.

2 Rented equipment by paying $ 2000 cash for the first month’s ( July) rent.

5 Purchased $ 2400 of office supplies with cash.

10 Paid $ 7200 cash for the premium on a 12 month insurance policy. Coverage begins July 11th.

14 Paid an employee $ 1000 cash for two weeks salary earned by employee.

24 Collected $ 9800 cash for storage fees from customers.

28 Paid another $ 1000 cash for two weeks salary earned by employee.

29 Paid $ 950 cash for inr repairs to leaking roof.

30 Paid $ 400 cash for this month’s telephone bill.

31 Plume withdrew $ 2000 cash for personal use.

Account chart:

101 Cash
106 Accounts receivable
124 Office supplies
128 Prepaid insurance
173 Buildings
174 Accumulated Depreciation – Building
209 Salaries Payable
301 L.Plume Capital
302 L.Plume Withdrawals
401 Storage fees earned
606 Deprecition expense – Building
622 Salaries Expense
637 Insurance Expense
640 Rent expense
650 Office Supplies Expense
684 Repairs expense
688 Telephone expense
901 Income expense

Here’s what I’m supposed to do with this:

Use balance column format to set up each ledger account listed init’s chart of accounts.

Prepare journal entries to record transactions for July and post to ledger accts. Record prepaid and unearned items in balance sheet accts.

Prepare unadjusted trial balance as of July 31

Use following information to journalize and post adjusting entries
a) 2/3 of one month’s insurance coverage has expired.
b) $ 1525 worth of office supplies will still be available at end of month
c) Building depreciation for this month is $ 1500
d) Employee earned $ 100 of unpaid and unrecorded salary as of month end.
e) Company earned $ 1150 of storage fees not yet billed at end of month.

Prepare the income statement and the statement of owner’s equity for month of July and the balance sheet at July 31 2008

Prepare journal entries to close the temporary accounts and post to the ledger

Prepare a post-closing trial balance.

I know….it’s insane which is why I’m already half nuts over it. Any help would be appreciated! Thanks!

a company earned storage fees that are not billed yet

what is the Huge red lump, and how do i get rid of it!?

admin — Thu, 23 Jun 2011 05:29:15 +0000

whilst I was on holiday in spain i noticed a small, slightly saw red lump, just below my waist line at the top of the pubic hair region, it got slightly bigger and then shrunk and almost disappeared, that was around 5 weeks ago, I thought that it was just a mosquito bite or and ingrown hair, but over the last 2 weeks, it has re-appeared and gotten bigger and bigger, and today its sore as hell, its now about the size of half a ping pong ball raised from my skin, and is perfectly circular, very red and very sore and the area around that is swollen and red also it does look as though eventually it will come to a head but at the moment its just smooth and shiny and the skin is starting to crack, I have had similar things before on my inner thighs, but this one is huge, I know that the obvious answer is to go and see a doctor but I am English and currently working in Holland and have no insurance, I can go home if it doesn’t sort itself out, but i’m just looking to see if there is anyone who knows about this or has had this, or knows a way i can get a head up on it, I have used heat on it which i have read on here works but, still nothing ……… i need to sort something out as its getting very sore!

hope you can help!

Can you get a equity loan when your house is in dire need of repair and when you have huge credit card debt?

admin — Mon, 20 Jun 2011 06:41:02 +0000

I have credit card debt of about $ 14,000 (always paid on time and always more than mininum amount). I would like debt consolidation and money to repair (roofing, gutter & windows)the house with extra monies left over. I have never re-financed the house and pay 8% interest since “92″

How do I manage my huge student loan debt?

admin — Sat, 18 Jun 2011 00:29:01 +0000

I am a graduate student now with over 120K in student loan debt. Including private and federal loans. I’m really concerned about how I am going to pay it all back. I justified it all by saying that I am in a graduate program (currently in my first year of a 5 year PhD program in industrial-organizational psychology at another very pricey school) that will yield a high paying job. Though now I hate my graduate program and what I am studying. How can I manage this massive student loan debt??

How can I pay off a huge sum of credit card debt without ruining my future??

admin — Thu, 16 Jun 2011 18:53:03 +0000

I am a 20-yr old student, halfway through college. When I began college, I recieved all of those “college” credit card offers mailed to my house. I made the mistake of not cutting up the cards and just threw them away and now someone in my family has used the cards to rack up between $ 15,000-$ 20,000 of debt in my name. I do not wish to press charges on them since they are in my family, and my creditors have told me that is the only way I can claim “fraud” on the accounts.

Now I have 4 credit cards in my name that are 6 months or more overdue in payments and I only work part-time at a daycare since I am in school. My parents/relatives will not loan me the money, nor can I drop out of school to work full-time. Creditors are calling me day and night and I just do not have the money to pay off this huge debt. What is my best option? Credit counseling? Debt Management? Bancruptcy? I know there is no “ideal” option but what can I do that would cause the least harm to my credit & future?
I can only afford to pay my creditors about $ 400 a month total. I would like to avoid bancruptcy at all costs because my fiance and I would like to get married and have kids in the next 7 years and even though he has good credit, mine will prevent that if I declare bancruptcy.
The family member who accumulated the debt will be paying me back eventually but this might not happen for awhile.

Also, I have already spoken with my creditors, they cannot come to an affordable agreement with me.

Do huge medical bills negatively affect your 3 Bureau credit score if not taken care of properly?

admin — Sun, 12 Jun 2011 09:29:08 +0000

does medical bills affect renting a home does medical bills affect your credit score

Fixed rate mortgage can a remortgage without paying huge fees?

admin — Fri, 10 Jun 2011 21:41:08 +0000

I have a two year fixed deal with A & L. I have had the mortgage a year but i want to remortgage is there anything i can do so that i dont have to pay early repayments fees etc

Mortgage Amount? huge difference?

admin — Mon, 16 May 2011 03:34:01 +0000

Approximately 3 weeks before my husband had his back taxes that I was a loan officer, an amount he did. We stayed for 310k to be content based on pre-approved. Once I had the W-2 forms, he showed 8k difference what I do with the loan officer because of my husband to take a few weeks of unpaid leave was. We are half way easier to get a commitment in a house and the total is 300k. If an incredible difference to our 8k loan amount, or will we still be able to approach the amount that we really need me? I with the loan board meeting on Sunday to check all the paperwork and might hate it, we can not get a mortgage on my husband’s salary difference.

Is this huge bank bailout going to hurt the Republicans?

admin — Wed, 04 May 2011 03:14:02 +0000

The banks took risks by providing bad loans and mortgages to people who shouldn’t have bought homes or loaded up on credit cards.

The banks made huge profits and kept all the money for themselves or their CEOs. Yet when their risky ventures turn against them, the government comes along and bails them out with our money. These CEOS made huge amounts of money (stock options, bonuses, golden parachutes etc) regardless of how they performed.

Why can you, I or small business owners get bailed out if our mortgage, credit card debt, bad stock investments, or small business starts failing?

Will this massive bailout hurt the Republicans? Will it hurt the Democrats and their do-nothing congress?