please answer with correct calculations and explanations.
 

QUESTION:

Kari is purchasing a home for $220,000. The down payment is 25% and the balance will be financed with a year mortgage at 8% and 4 discount points. Kari made a deposit of $30,000 (applied to the doen payment) when the sales contract was signed.

 

Kari also has three expenses: credit report, $70; appraisal fee, $110; title insurance premium, 1% of amount financed; title search, $200; and attorney's fees, $500. Find the closing costs (in $).

E15-15 Treasury Stock, Cost Method On January 1, Lorain Corporation had 2,000 shares of $5 par common stock authorized and outstanding. These shares were originally issued at a price of $26 per share. In addition, 500 shares of $50 par preferred stock were outstanding. These were issued at a price of $75 per share. During the year, the following stock transactions occurred: 1. March 3: Lorain reacquired 100 shares of its own common stock at a cost of $24 per share. 2. April 27: It sold 25 shares of the common stock acquired on March 3 for $33 per share. 3. July 10: It sold 25 shares of the common stock acquired on March 3 for $22 per share. 4. October 12: It retired the remaining shares acquired on March 3. Required: Prepare journal entries to record the treasury stock transactions of Lorain, assuming it uses the cost method.