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What is Mortgage & Mortgage loan
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Answer / satish
Mortgagge is a pledging of property by it is using by the way of it is usefull&loan is in way of land Home etc....
The two are main when the problems comes in my view.
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / ali imran
Mortgage loan could be in instalments or could be in lump sum amount.
It could be for limited time or could be for undefined time period. Depend upon the company's position in the eye of lender.
Normally mortgage lender is considered as secured creditor and it is limited to time period & paid as lump sum amount.
| Is This Answer Correct ? | 3 Yes | 2 No |
Answer / reji
mortgage is a legal agreement by which bankers, builers,society etc. lends money at interest in exchange for taking title that the deptors property. mortgage is a dept instrument.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / shaheen begaum
PLEDGING FOR THE PROPERTY,AGREEMENT OF SALE AND LINKED
DOCUMENTS WHICH IS GOING TO HANDOVER TO THE LENDER OF THE
MONEY ON BEHALFUSING IT.
| Is This Answer Correct ? | 6 Yes | 7 No |
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Loan sanctioned by Andhra bank was trasfered to current account. Pass journal entry
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EXPAND______________OCC
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Expand L I P
Pass Journal Entry for the following Mr.A is running Furniture Business. He bought 10 chairs at Rs.1000 each. He used one chair for his personal use.
please answer this question.the following balances were extracted from the books of modern traders on 31st dec,2010.capital(85000)fixed assets(45000)stock1-1-2010(15000)sundry debtors(20600)productive exp(3300)reserves fund(6600)discount received(800)cash in hand(6200)drawing(5000)accomulated dep.(9000)purchases(82000)bad debts(400)unproductive exp.(27400)sundry creditors(9000)sales(120000)cash at bank(25500).adjustments.stock on 31-12-2010(15000).outstanding wages (5000) write-off (600)of further bad debts. create provision for bad & doubtful debts at {5%) on debtors.unproductive expenses includes anitem of prepaid insurance (100).provide depreciation on original cost of fixed assets @ (10%).
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