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3 years ago

What is the problem with paying only your minimum credit card balance each month?

Business

1 answer:

balandron [24]3 years ago

6 0

Answer:

Most credit cards only require you to make a minimum payment each month, which is typically a fixed amount, like $20 to $25 or something thats 1 to 3 percent of your balance so the less you pay now, the more you'll pay later

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The accounting records of Eastlake Industries provided the data below. Net income $ 300,000 Depreciation expense 15,000 Increase

balandron [24]

Answer:

Explanation:

Net income $300,000

Adjustments for noncash effects:

Depreciation expense 15,000

Increase in inventory (2,000)

Decrease in interest payable (1,600)

Increase in accounts receivable ( 1,400)

Decrease in bond premium (3,000)

Increase in accounts payable 7,000

Net cash flows from operating activities

$314,000

6 0

3 years ago

Jim&Jenny Inc, an investment service firm, regularly donates to nonprofit organizations for various social causes and events

svlad2 [7]

Answer:

A. Discretionary responsibility

Explanation:

A discretionary responsibility is also known as philanthropic responsibility, involves organisations making donations, that will contributes to the development of the community in which its operates

It has to do with a generous efforts carried out by an organization that assist in contribution of resources to community in which is operates for a better quality of life.

Therefore Jim& Jenny Inc donating to the non profit organisation is a discretionary responsibility

8 0

3 years ago

The beginning and ending balances of retained earnings for the year were $30,000 and $35,000 respectively. If dividend payments

Keith_Richards [23]

Answer and Explanation:

The computation of the net income or loss for the year is shown below:

As we know that

Ending retained earnings balance = beginning retained earning balance + net income or net loss - dividend paid

$35,000 = $30,000 + net income or net loss - $13,000

$35,000 = $17,000 + net income or net loss

So, the net income or net loss is $18,000

This is an answer but the same is not provided in the given options

7 0

3 years ago

Explain the role of an entrepreneur in the economy

Ostrovityanka [42]

To start their own business, usually this supports their local economy however still depending on their success.

5 0

3 years ago

Lindsey Company uses activity-based costing. The company has two products: A and B. The annual production and sales of Product A

natita [175]

Answer:

Results are below.

Explanation:

First, we need to calculate the activities rate:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Activity 1= 24,000 / 1,000= $24 per activity unit

Activity 2= 36,900 / 900= $41 per activity unit

Activity 3= 63,000 / 1,800= $35 per activity unit

Now, we can allocate costs to product A:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Activity 1= 24*200= $4,800

Activity 2= 41*750= $30,750

Activity 3= 35*1,000= $35,000

Total allocated costs= $70,550

Finally, the unitary cost:

Unitary cost= 70,550 / 5,000= $14.11

3 0

2 years ago