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bekas [8.4K]
1 year ago
8

List at least 6 things your credit card company must clearly disclose to consumers.

Business
1 answer:
never [62]1 year ago
8 0

It is important to review the credit card disclosure for information on APRs, Penalties, Grace periods, Minimum financing charges, Calculation methodologies, and Fees.

An explanation of all the fees, charges, interest rates, and conditions that a consumer can encounter when using the credit card is contained in a credit card disclosure. The legislation requires disclosure of this information by organizations that provide credit cards. The disclosures on credit cards offer clear information about costs and charges. They also encourage rivalry. To allow consumers to evaluate credit cards more effectively, it is legally necessary of all credit card companies to give the same price information. They can pick the one that better serves their tastes in terms of price.

The interest rate that a client will pay on outstanding balances is the most obvious example of a cost listed on a credit card disclosure. Basic elements like the monthly payment deadlines will also be covered in the disclosure.

Learn more about Credit Card here:

brainly.com/question/28800758

#SPJ4

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A sportswear manufacturer is introducing a new line of sneakers. To introduce the new line, the company must pay out a fixed cos
Maurinko [17]

Answer:

Total revenue at breakeven is $1,508,042

Explanation:

Breakeven point in units  = Fixed cost / Selling price -Variable cost per unit

Breakeven point in sales revenue  = Fixed cost / (Selling price* x)- (Variable cost per unit * x)

In this case,  

Fixed cost= $1.5 million

Selling price =$75

Variable cost per unit =40 cents

Breakeven point in units  = 1,500,000 million/ 75 -0.4

Breakeven point in units  = 20,107

Breakeven point in units sales = 20,107 * 75

Breakeven point in units sales = $1,508,042

8 0
3 years ago
Rayya Co. purchases and installs a machine on January 1, 2015, at a total cost of $176,400. Straight-line depreciation is taken
Arada [10]

Answer:

1.Journal 2019 Expense:

Depreciation Expense $12,600 (debit)

Accumulated Depreciation $12,600 (credit)

2.Journal : Cash Sale of $45,500

Cash $45,500 (debit)

Accumulated Depreciation $113,400 (debit)

Profit an Loss $17,500 (debit)

Cost : Machine $176,400 (credit)

3.Journal : insurance settlement of  $25,000

Cash  $25,000 (debit)

Accumulated Depreciation $113,400 (debit)

Profit an Loss $38,000 (debit)

Cost : Machine $176,400 (credit)

Explanation:

Depreciation Expense (Straight line) = (Cost - Salvage Value) ÷ Estimated Useful Life

                                                             = $176,400 ÷ 7

                                                             = $25,200

2015

Depreciation Expense = $25,200

2016

Depreciation Expense = $25,200

2017

Depreciation Expense = $25,200

2018

Depreciation Expense = $25,200

2019

Depreciation Expense = $25,200 × 6/12

                                      = $12,600

Journal 2019 Expense:

Depreciation Expense $12,600 (debit)

Accumulated Depreciation $12,600 (credit)

Journal : Cash Sale of $45,500

Cash $45,500 (debit)

Accumulated Depreciation $113,400 (debit)

Profit an Loss $17,500 (debit)

Cost : Machine $176,400 (credit)

Journal : insurance settlement of  $25,000

Cash  $25,000 (debit)

Accumulated Depreciation $113,400 (debit)

Profit an Loss $38,000 (debit)

Cost : Machine $176,400 (credit)

3 0
3 years ago
Sarjit Systems sold software to a customer for $80,000.
Ipatiy [6.2K]

Answer:

If the products are sold seperately they would sell for $100,000:

Software $70,000 = 70%

Technical Support $30,000 = 30%

Sarjit Systems sold the software for $80,000

Software 70% of 80,000 = $56,000

Technical Support 30% of 80,000 = $24,000

We will record technical support as deferred revenue since the customer pays for the support upfront before receiving the service.

The journal entry would be:

Account Title                          Debit           Credit

Cash                                       80,000

 Sales Revenue                                          56,000

  Deferred Revenue                                   24,000

8 0
3 years ago
I NEED HELP ehl oh ehl
Wittaler [7]

The price ceilings and price floors are the two main types of price controls.

<h3>What is price controls?</h3>

A price control is a mechanism employed by government to ensure that the price of a product or service does not go to high or low in the marjet.

The two type of price control is price ceilings and price floors. The price ceiling is used to set a maximum amount of product rpice while the price floors set the minimum amount of product price.

Read more about price control

<em>brainly.com/question/16126608</em>

3 0
2 years ago
The Atlanta Symphony wants to make sure that its concerts are affordable for all residents of Atlanta and therefore prices all i
Ksju [112]

Answer:

$75

Explanation:

The true cost of going to a concert is $75 because that is its economic cost. Economic costs include accounting costs and opportunity costs. In this case, if you are able to purchase a $25 ticket, you can resell it for $75 (opportunity cost = $50), you the true cost is the resale price.

3 0
3 years ago
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