Home inspection insurance

26 Aug

Posted by Admin as Articles

Purchasing A Home: The Process - OC Home Talk
Hazard Insurance: Real estate insurance protecting against loss caused by fire, some natural causes, vandalism, etc… Home Inspection Report: A qualified inspector’s report on a property’s overall condition. The report usually includes … read more…

Windermere Woodinville Blog » Blog Archive » Is Your Home …
The State of Washington has a Home Inspector Licensing law which is now in effect. Anyone who has been performing home inspections should be licensed by September 1, 2009. There is no requirement that Errors & Emissions Insurance be … read more…

Top 10 First Time Homebuyer Mistakes! @ oXYGenFinancial – Your …
The lack of being able to put 20% down, may (depending on how the mortgages are written) make your subject to paying private mortgage insurance. By following rule #2, you won’t be paying for unnecessary insurance by not putting down … I really recommend that you have a contingency offer, especially on the outcome of a home inspection. Get the meanest and toughest home inspector you can find, as you generally only get one shot to take care of the issues before the … read more…

From Google Blog Search

Flipping Real Estate: 10 Reasons Why They Fail
From 2002 to 2006 real estate was such a lucrative business with the generous availability of loans and so much speculation that home prices would trend up forever. In today’s market, they buying fren… read more…

Spokane Homes for Sale: Securing Your Dream Home
With housing prices and mortgage rates in many areas of the nation at an all-time low, there’s never been a better time to find Spokane homes for sale at a reasonable price. But perhaps you’re not sur… read more…

Home Plumbing Tips: Signs That You May Have A Serious Problem
Of course, there are the easy to spot constant drips from a tap that may have a damaged thread or faucet (and is pretty easy to fix) but it is the undetected leaks that, more often than not, w… read more…

From GoArticles.com

Open Question: Can someone help me with my accounting test? It’s worth a lot of points and I don’t want to mess it up.?
1 (40 points)
Financial decisions often place heavier emphasis on one type of financial
statement over the others. Consider each of the following hypothetical situations
independently.

(a) Nordstroms is considering extending credit to a new customer. The terms of the credit
would require the customer to pay within 30 days of receipt of goods.

(b) An investor is considering purchasing common stock of Home Depot Company. The
investor plans to hold the investment for at least 5 years.

(c) Wells Fargo is considering extending a loan to a small company. The company would
be required to make interest payments at the end of each year for 5 years, and to repay
the loan at the end of the fifth year.

(d) The president of American Greetings is trying to determine whether the company
is generating enough cash to increase the amount of dividends paid to investors
in this and future years, and still have enough cash to buy equipment as it is
needed.

Instructions
In each situation, state whether the decision maker would be most likely to place primary
emphasis on information provided by the
income statement,
balance sheet, or
statement of cash flows.

In each case provide a brief justification for your choice. Choose only one
financial statement in each case.

May 1 Stockholders invested $80,000 cash in the business in exchange for common
stock of the corporation.

3 Purchased BoardWorld for $60,000 cash. The price consists of land
$20,000, building $30,000, and equipment $10,000. (Record this in a single
entry.)

5 Advertised the opening of the skate board park, paying advertising
expenses of $500 cash.

6 Paid cash $6,000 for a 1-year insurance policy.

10 Purchased equipment for $4,600 from T. Hawks Company, payable in
30 days.

18 Received $1,500 in cash from customers for fees earned.

19 Sold 150 coupon books for $40 each in cash. Each book contains five
coupons that enable the holder to use the park. (Hint: The revenue is not
earned until the customers use the coupons.)

25 Declared and paid a $300 cash dividend.

30 Paid salaries of $1,280.

30 Paid T. Hawks in full for equipment purchased on May 10.

31 Received $1,100 of fees in cash from customers for fees earned.
Cash,
Prepaid Insurance,
Land,
Buildings,
Equipment,
Accounts Payable,
Unearned Revenue,
Common Stock,
Retained Earnings,
Dividends,
Revenue
Advertising Expense
Salaries Expense.

3 (40 points)
Farrell Company is trying to determine the value of its ending inventory as of
March 31, 2007, the company’s year-end. The following transactions occurred, and the accountant
asked your help in determining whether they should be recorded or not.

(a) On March 30, Farrell shipped to a customer goods costing $800. The goods were
shipped FOB destination, and the receiving report indicates that the customer received
the goods on April 1.

(b) On March 28, Supplier Inc. shipped goods to Farrell FOB shipping point. The invoice
price was $400 plus $20 for freight. The receiving report indicates that the goods
were received by Farrell on April 2.

(d) Farrell had $380 of inventory at Zwingle Variety, on consignment from Farrell.

(e) On March 29, Farrell ordered goods costing $640. The goods were shipped FOB destination
on March 31. Farrell received the goods on April 3.

(f ) A customer returned goods to Farrell on March 31. Upon inspection, the goods were
found to be undamaged and were accepted as returned goods. These goods originally
cost $400 and Farrell sold them for $640.

Instructions
For each of the above transactions, specify whether the item in question should be included
in ending inventory, and if so, at what amount. For each item that is not included in ending
inventory, indicate who owns it and what account, if any, it should have been recorded in.

4 (40 points)
State University’s Accounting Club decided to sell coupon books as a fund-raising
activity. The books allow users to enjoy restaurants, entertainment, and services such as
oil changes, at substantial discounts. The club bought 100 books for $16 each, and members
will sell them for $20. About 20 members attended the last club meeting, and most
took one or two books to sell. Since the club had already paid for the books and didn’t
have other immediate cash needs, members do not have to pay for the books until they
sell them. Extra books are stored on a book shelf in the club’s on-campus office. The office is
in a great location with plenty of student traffic. It is shared with the Marketing and
Information Systems clubs. Each club has four sets of keys that are used by its officers
and members.
As students sell books, they bring the cash or checks to the club’s office. Students
with unusual class schedules who arrive when the office is locked can put payments under
the door. Payments are st

Resolved Question: Wheel flew off car…now who is at fault?
We were driving on a highway 17 days after having our four-year-old car inspected. We suddenly saw sparks and heard a thud. Thinking we had a flat tire we pulled over and got out to look and to our surprise the entire wheel was gone. Some people who were riding behind us said it flew off and went into the woods lining the highway and they did not think we would find it. They were correct; we were unable to find it. We had to be towed over 100 miles home. Our insurance is paying for the damage to the quarter panel and whatever else hit the ground after the wheel popped off but not the rim or the tire replacement. They have stated they will subrogate the service station where the car was inspected and they advised that we make a claim against them as well for the deductible and the amount of the damage that the insurance is not paying for (rim, tire, etc.).

The shop confirmed that they did remove the tires and put them back on but they are saying they will not accept fault since it would have happened sooner; however, this was the first long trip we had taken since the inspection was done. They will not give me their liability policy information. However, I feel there was some human error here that caused this. The mechanic who has our now (at a different shop) said that it looks as if three of the four lug nuts were loose and they eventually worked themselves off and the fourth one couldn’t take the pressure and snapped and that is when we lost our wheel.

Has a similar thing ever happened to anyone else? Were you able to get the garage to admit fault or to at least pay some of the damages?

I don’t know if we can afford an attorney. I don’t know what our next step should be.

Nobody was hurt but this could have been very serious. Since the wheel totally left the road it did not hit anyone else or cause any damage. I think this could have been very serious and the garage manager is acting as if I’m making this up and it’s of no consequence to him.
Thanks, everyone, we consulted two attorneys. Basically we were told that since we weren’t hurt this is not worth pursuing. We reported to the insurance company, got a check for part of the damage. I honestly am worn out from all this. I might try writing a letter to the owner of the shop letting him know how displeased we are and then I guess we’ll just count our blessings we’re OK. I’m not OK with this but it’s incredibly exhausting. We were without a car for over a week, now we’re out money, and it’s been a big hassle. Thanks for your help. All great answers.

Home inspection insurance

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