Underline Settlement Statement fast and easy

Simple guide on how to Underline Settlement Statement

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How to Underline Settlement Statement

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In this video tutorial, Tiffany Weber, a real estate lawyer in North Carolina, explains how to read a settlement statement, specifically the closing disclosure provided by lenders for residential loans. She emphasizes that while many refer to it as a settlement statement, the official term is closing disclosure, which is a five-page document. Tiffany highlights that this document contains all pertinent information about the loan. On the first page, you'll find the identification of the parties involved in the transaction, specifically the seller and buyer, along with details about the property. She encourages viewers to subscribe for more insights into the closing process.

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What is double line vs single line accounting?

Single-entry and double-entry accounting are both methods of record-keeping for companies financial transaction data. Single-entry accounting records each transaction one single time, while double-entry accounting records each transaction twice, once as a debit and once as a credit.

What are single and double underlines in financial statements?

In a financial statement, a single underline generally represents a subtotal (in this case, total expenses), while a double underline indicates a final total (in this case, revenues minus expenses, or net income).

What do you underline on financial statements?

When amounts are added or subtracted, single underscores should be drawn. Totals should be double-underscored and have dollar signs. Do not include commas or decimal points for amounts when using accounting paper. It is acceptable to use these when preparing a financial statement in a spreadsheet.

What do you double underline in balance sheet?

Double Underlining denotes the grand total which is likely to be seen at the bottom of financial statements.

Is a double line for subtotal or total?

Double Underlining denotes the grand total which is likely to be seen at the bottom of financial statements.

What is the double line in accounting called?

Double-entry refers to an accounting concept whereby assets = liabilities + owners equity. In the double-entry system, transactions are recorded in terms of debits and credits.

What does a double underline mean in accounting?

Double bottom line (abbreviated as DBL or 2BL) seeks to extend the conventional bottom line, which measures fiscal performancefinancial profit or lossby adding a second bottom line to measure a for-profit businesss performance in terms of positive social impact.

Is total liabilities double underlined?

The Total Liabilities amount should not be double-underlined.

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Underline Settlement Statement