Wolf of Wall Street: Jordan Belfort an antihero or villain?

I was surprised to see how many people actually find him a hero.Yes he was a successfull,self made man,a mans man,a great salesman. But for what did he use his skills for? For his own gain! It did not matter for him that the naive people he convinced were trusting him with their life savings so they could pay their mortgage and send kids to college, he thought he was ENTITLED to their money cause the thought he spends it better. And look how he spend it: He had a gorgeous wife at home, but cheated her with hookers,was a drug addict, he was filthy rich but he still needed more. For me he is the epitome of everything that is wrong with todays world, but SOME people find him cool cause he lived the high life for some time

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Is a revolving line of credit considered a derivative instrument?

I am trying to support that borrowing on a revolving line of credit would be considered a financing activity in the statement of cash flows based of ASC 230-10. However, this is what the ASC lists:

Cash Flows from Financing Activities
45-14 All of the following are cash inflows from financing activities:
a. Proceeds from issuing equity instruments

b. Proceeds from issuing bonds, mortgages, notes, and from other short- or long-term borrowing

c. Receipts from contributions and investment income that by donor stipulation are restricted for the purposes of acquiring, constructing, or improving property, plant, equipment, or other long-lived assets or establishing or increasing a permanent endowment or term endowment

d. Proceeds received from derivative instruments that include financing elements at inception, whether the proceeds were received at inception or over the term of the derivative instrument, other than a financing element inherently included in an at-the-market derivative instrument with no prepayments

e. Cash retained as a result of the tax deductibility of increases in the value of equity instruments issued under share-based payment arrangements that are not included in the cost of goods or services that is recognizable for financial reporting purposes. For this purpose, excess tax benefits shall be determined on an individual award (or portion thereof) basis.

So what does a revolving line of credit fall under in this context? Thank you!

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HOA requiring sit down interview?

My mother got a mortgage loan in her name (to get a lower interest rate) but only I will be living there and paying the mortgage. The deed /title is in both names. The HOA is requiring a personal face-to- face interview with both of us. The issue is, is that the seller is required to close on their new property by the end of 2013. Which gives us 5 days to interview. I live in the area ( Fort Lauderdale) so l am available to interview. My mother lives 5 hours away and will not be able to make it by closing.

We put 20k deposit into escrow and have a contract fully executed at this point. However, my mom is willing to have a phone or skype interview.

What are our options at this point? Should I just have the deed/title in my name instead of both names?

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Accounting Help? How to calculate balance in investments account?

The following selected account balances were taken from ABC Company's general ledger at January 1, 2011and December 31, 2011:

January 1, 2011 December 31, 2011
Accounts receivable 52,000 36,000
Cash 23,000 47,000
Inventory 31,000 18,000
Accounts payable 11,000 37,000
Equipment 123,000 144,000
Salaries payable 2,000 4,000
Investments 42,000?
Land 91,000 40,000
Mortgage payable 111,000 60,000
Common stock 110,000 125,000
Retained earnings 32,000 37,000
Additional information for 2011 appears below:
1. ABC Company reported net cash inflows from operating activities of $60,000 and net cash outflows from
financing activities of $87,000
2. ABC Company sold land costing $60,000 and recorded an $8,000 loss on the sale
3. ABC Company purchased equipment for $21,000 cash
4. ABC Company purchased investments for $60,000 cash and sold investments and reported a $25,000 gain on
the sale

Calculate the balance in the investments account at December 31, 2011. Do not use decimals in your answer.

If anyone could please help me out it would be so much appreciated!

Thank you:)

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