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AlekseyPX
3 years ago
14

Sporting goods charges .85 percent interest per month. what rate of interest are its credit customers actually paying?

Business
1 answer:
seraphim [82]3 years ago
8 0
To answer this item, we assume that the interest rate is simple, such that the yearly rate was only divided by 12 months in order to determine the rate per month. Hence, to answer this item, we simply have to multiply the given percent by 12.

                          rate of interest/year = (12)(0.85%) = 10.2%

Therefore, the answer is 10.2%. 
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Air Atlantic has leased out a 3-year old jet under a 10-year arrangement. The lease requires the lessee to pay Air Atlantic annu
TiliK225 [7]

Answer:

$2,513,582.06

Explanation:

8 0
3 years ago
Transactions related to purchases and cash payments completed by Wisk Away Cleaning Services Inc. during the month of May 20Y5 a
yKpoI14uk [10]

Answer:

Wisk Away Cleaning Services Inc.

a) Purchases Journal

Date         Description                                  Debit                    Credit

May 3       Cleaning Supplies    14                  $200

                Accounts Payable (Brite N’ Shine Products Inc.) 2`1  $200

To record the purchase of cleaning supplies on account.

May 18     Cleaning Supplies   14                    $240

                Accounts Payable (Bio Safe Supplies Inc.)          21      $240

To record the purchase of cleaning supplies on account.

May 20    Electrical Service Expense 53       $110

                Accounts Payable (Bowman Electrical Service)  21      $110

To record the purchase of electrical repair service on account.

b) Cash Payments Journal

Date      Description                                                  Debit         Credit

May 1     Accounts Payable (Safe Supplies Inc.) 21  $345

             Cash Account      11                                                       $345

To record the issue of Check No. 57 in payment.

May 15  Accounts Payable (Bowman Electrical Service)  21  $145

             Cash       11                                                                               $145

To record the issue of Check No. 59 in payment.

May 26 Accounts Payable (Brite N' Shine Products Inc.) 21 $200

           Cash       11                                                                               $200

To record the issue of Check No. 60 in payment.

May 31 Salaries Expense    51                             $5,600

           Cash      11                                                                         $5,600

To record the issue of Check No. 61 in payment of salaries.

Explanation:

Journals are prepared to record transactions.  There are many types of journal.  They are classified according to the type of transactions.  There are purchases journal, sales journal, general journal, cash journal, etc.

6 0
3 years ago
Maddie's shoe store donated hundreds of pairs of shoes to needy children at an inner city school. A news crew reported on the do
chubhunter [2.5K]

Answer:

publicity

Explanation:

Publicity involves creating an excellent reputation for a company's brand name. Publicly arises from positives messages from the media, and other sources such as the internet and word of mouth.  An organization engages in activities that create a good relationship with the media and the public to build the desired publicity.

Publicity messages are not paid for, unlike advertising.  In the case of Maddie, the business was engaged in a charitable event. The event was captured in the press, and Maddie brand name was mentioned, thus promoting its brand name.  

3 0
3 years ago
Which costs are correlated with the firm’s sales and include the costs of labor, raw materials, and sales commissions?
Llana [10]

Answer:

The correct answer is letter "B": direct.

Explanation:

Direct Costs for finished goods refer to the items and services directly used in production. Other costs such as rent and insurance for the production site are indirect costs. Examples of direct costs are direct labor and materials, manufacturing supplies or even commissions out of sales.

6 0
3 years ago
Devon owns a real estate company. He is aware of a decline in the housing market and realizes the need to encourage the realtors
Gnesinka [82]

Answer:

Involvement Culture

Explanation:

According to my research on studies conducted by various psychologists, I can say that based on the information provided within the question Devon is using the Involvement Culture. This is a culture that emphasizes the action of something that takes a lot of time, understanding and effort. This is one of the biggest challenges that some leaders can face.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

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