Business, 20.03.2020 21:31 ballerboles4747

Marlene opens an outdoor sports complex that features batting cages, miniature golf, and a driving range. She invests $116,900 of her own money and borrows $776,800 from her bank. She uses $489,600 of the loan proceeds to acquire the land and construct the office building for the sports complex. The remaining loan proceeds are used to acquire equipment and furnishings. The loan is secured by the land, building, and equipment.

Enter the amount Marlene is at risk in the business if the $776,800 debt was obtained on reasonably commercial terms and is secured as follows:

a. The business assets purchased, and Marlene is personally liable if the business assets are insufficient to satisfy the debt?

b. The business assets purchased, and Marlene is not personally liable if the business assets are insufficient to satisfy the debt?

c. The business assets purchased, and Marlene is not personally liable if the business assets are insufficient to satisfy the debt. Instead of a sports complex, she uses the loan to purchase an apartment complex?

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 10:00

Cynthia is a hospitality worker in the lodging industry who prefers to cater to small groups of people. she might want to open a

Answers: 3

Answer

Business, 22.06.2019 13:40

The cook corporation has two divisions--east and west. the divisions have the following revenues and expenses: east west sales $ 603,000 $ 506,000 variable costs 231,000 300,000 traceable fixed costs 151,500 192,000 allocated common corporate costs 128,600 156,000 net operating income (loss) $ 91,900 $ (142,000 ) the management of cook is considering the elimination of the west division. if the west division were eliminated, its traceable fixed costs could be avoided. total common corporate costs would be unaffected by this decision. given these data, the elimination of the west division would result in an overall company net operating income (loss)

Answers: 1

Answer

Business, 22.06.2019 15:00

Which of the following is least likely to a team solve problems together

Answers: 1

Answer

Business, 22.06.2019 15:20

Capital financial corporation will lend 90 percent against account balances that have averaged 30 days or less; 80 percent for account balances between 31 and 40 days; and 70 percent for account balances between 41 and 45 days. customers that take over 45 days to pay their bills are not considered acceptable accounts for a loan. the current prime rate is 16.50 percent, and capital charges 3.50 percent over prime to charming as its annual loan rate. a. determine the maximum loan for which charming paper company could qualify.

Answers: 1

Answer

You know the right answer?

Marlene opens an outdoor sports complex that features batting cages, miniature golf, and a driving r...

Questions