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Evgen [1.6K]
3 years ago
15

Which of the following are true if you pay only the minimum amount each month towards your credit card bill?

Business
1 answer:
Stels [109]3 years ago
6 0
You will have a higher interest and will be in debt for longer
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In performing accounting services for small businesses, you encounter the following situations pertaining to cash sales. 1. Ivan
Alona [7]

Answer:

Requirement: Prepare the entry to record the sales transactions and related taxes.

1.   Date      Account Titles and Explanation     Debit     Credit

   Apr. 10   Cash                                                 $30,975

                        Sales Revenue                                          $29,500

                        Sales Tax Payable                                     $1,475

                 (To record Cash sales along with sales tax)

2. Date      Account Titles and Explanation    Debit     Credit

   Apr. 15   Cash                                                 $18,530

                        Sales Revenue                                          $17,000

                        Sales Tax Payable                                     $1,530

                  (To record Cash sales along with sales tax)

<u></u>

<u>Workings</u>

- Total Sales along with sales tax = $18,530, Sales Tax Rate = 9%. Sales Tax Amount = 18530*(0.09/1.09) = $1,530

- Sales Without Sales Tax = $18,530 - $1,530 = $17,000

7 0
3 years ago
What type of promise to pay does a promissory note represent?
Sonja [21]
I’m not I’m sorry need points
3 0
2 years ago
Read 2 more answers
Each unit requires 2 pounds of direct materials, which cost $6 per pound. The company’s policy is to maintain direct materials i
ycow [4]

Answer: Budgeted Raw Material to be consumed in July.

Quantity         Price per pound             Total

10,200                 $6                             $61,200

Explanation:

As for the information provided, the material at month end in hand shall be:

20% of upcoming month's sale.

If in June at month end, the inventory in hand = 2,040 pounds of raw material.

Then, this represents 20% of total requirement of July.

Therefore, total requirement in July = \frac{2,040}{0.20} = 10,200\ pounds

This basically means:

Total inventory required =

Quantity         Price per pound             Total

10,200                 $6                             $61,200

5 0
2 years ago
Which best describes the benefits of renting a home?
8_murik_8 [283]
The benefits of renting include:<span>Financial flexibility. Think of a ocean liner and a speedboat. ...Financial stability. ...Career flexibility. ...Low maintenance costs. ...No market risk. ...You don't pay taxes or insurance directly. ...No cash outlay required. ...<span>Some bills are included in the rental price</span></span>
7 0
3 years ago
Final goods and services refer to:
Andrew [12]

Answer:

= goods and services purchased by

ultimate users, rather than for resale or further processing.

Explanation:

= goods and services purchased by

ultimate users, rather than for resale or further processing.

= goods and services purchased by

ultimate users, rather than for resale or further processing.

= goods and services purchased by

ultimate users, rather than for resale or further processing.

= goods and services purchased by

ultimate users, rather than for resale or further processing.

= goods and services purchased by

ultimate users, rather than for resale or further processing.

= goods and services purchased by

ultimate users, rather than for resale or further processing.

= goods and services purchased by

ultimate users, rather than for resale or further processing.

6 0
3 years ago
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