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oee [108]
2 years ago
13

Open this link to read more about how credit card interest works. Use this information to calculate the cost of your computer wh

en paying only the minimum payment. Cost of computer (balance): $600 Annual percentage rate (APR): 12.9% Minimum Payments: 10 Use the simple interest formula: A
Business
1 answer:
Luda [366]2 years ago
5 0

The amount incurred by a business for borrowed cash is known as interest expenditure. On the income statement, interest expenditure is a non-operating item.

The cost of your computer when paying only the minimum payment is $774

<h3 /><h3>Difference between interest expense and interest paid?</h3>

First, interest cost is an expense item that appears on the income statement, whereas interest payable appears on the balance sheet as a liability account.

Second, interest expense is recorded as a negative, whereas interest payable is recorded as a credit in the accounting records.

interest works.

Use this information to figure out how much your computer will cost if you only make the minimum payment.

If you only pay the absolute necessities each month,

The computer's final cost be

$600

Cost of computer (balance): $600

Annual percentage rate (APR): 12.9%

Minimum Payments: 10

$774

simple interest formula:

A = (P)

For more detail about Interest Payable reference link;

brainly.com/question/9256832

#SPJ1

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Local Technology is an IT services company focused on building businesses through leveraging the best technology solutions.
7 0
2 years ago
The PE ratio: Assuming Net Income for the year is $250,000, what is the net cash flows from operating activities given the follo
solmaris [256]

Answer:

Net operating cash flow = $189,250

Explanation:

Particulars                                    Amount$

Net income                                    250,000

Add:depreciation expense           9,500

Add:loss on sale of asset              1,250

Add:increase in salary payable    19,500

Less:increase in prepaid rent       (27,500)

Add:increase in AP                        29,500

Less:increase in inventory            <u>(93,000)</u>

Net operating cash flow              <u>$189,250</u>

4 0
2 years ago
Following is the sales budget for Coore, Inc., for the first quarter of 2019.
gayaneshka [121]

Answer:

a. Sales for November = $192,666.67

b. Sales for December = $312,400,00

c. Total cash collections are as follows:

January = $200,580

February = $201,360

March = $191,750

Explanation:

a. Compute the sales for November.

Sales for November = (Accounts receivable balance at the end of the previous quarter - Uncollected sales from December) / Collection rate two months after the sale = ($107,000 - $78,100) / 15% = $192,666.67

b. Compute the sales for December.

Sales for December = Uncollected sales from December / (Collection rate one months after the sale + Collection rate two months after the sale) = $78,100 / (10% + 15%) = $312,400,00

c. Compute the cash collections from sales for each month from January through March.

Note: See the attached excel file for the schedule of cash collections from sales for each month from January through March.

From the attached excel file, total cash collections are as follows:

January = $200,580

February = $201,360

March = $191,750

Download xlsx
3 0
2 years ago
All of the following are the names of the three major credit bureaus EXCEPT
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D. Chex systems
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3 years ago
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Suppose you are 45 and have a $50,000 face amount, 15-year, limited-payment, participating policy (dividends will be used to bui
taurus [48]

Answer:

The Net cost of insurance $13,129.

Explanation:

Annual premium (15 years) $15,000 ($1,000 × 15 years)

Time value of money

$1,000 × 25.129 = $25,129 (Exhibit 1-B, 15 years, 7%)

+$10,129 ($25,129 - 15,000)

Total cost of policy $25,129 ($15,000 + 10,129)

Cash value (end of 15 years) -$12,000

Net cost of insurance $13,129 ($25,129 - 12,000)

At a 7 percent annual yield, your account would have accumulated to $25,129 in 15 years. You have paid $13,129 for 15 years of insurance protection.

8 0
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