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KiRa [710]
3 years ago
11

Which is the most common method for calculating credit card balances? A. Previous balance method, B. Adjusted balance method, C.

Average daily balance method, D. Average monthly balance method
Business
2 answers:
fenix001 [56]3 years ago
8 0

The correct answer is C. Average daily balance method.

In average daily we consider balance interest or owed at the end of the day.

To calculate debt credit card we take the percentage of the total amount of current balance which will be termed as the interest then add one percent of the principal.

T o calculate for daily credit card balance we total the balance in the billing cycle everyday then you will divide your total with the number of days which in the cycle.

Andrew [12]3 years ago
7 0
Average daily balance method
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During January 2017 General Fund supplies ordered in the previous fiscal year and encumbered at an estimated amount of $2,000 we
Norma-Jean [14]

Answer:

The correct answer is:

Expenditures—2017 in the amount of $200. (C.)

Explanation:

This scenario describes a record that was less than the actual amount spent on the General Fund supplies. The amount recorded was $2,000, meanwhile the actual amount spent was $2,000. This entails that an amount worth $200 was not recorded, hence it will be debited as expenditures, but the question now is where the debit will be recorded?

This review was done in January 2017, meaning that the income statement for the 2016 Fiscal year must have been balanced, hence the amount will be an expenditure recorded in 2017, but the particulars will have a description that it was a carried over expenditure from 2016. Therefore $200 will be debited from 2017 as expenditures.

5 0
3 years ago
Institutions specialize in raising money for governments and corporations by issuing securities.
DaniilM [7]

Investment institutions is a specialize in raising money (investment capital) for governments and corporations by issuing securities such as stocks or bonds. People buying a company's securities are buying into a portion of a company and its earnings or income. Investment institutions offers shares or units. 

6 0
3 years ago
Read 2 more answers
Select the items that describe what happens at the equilibrium price. Producers supply the exact goods that consumers buy. Consu
Mekhanik [1.2K]

The items that describes what happens at the equilibrium price are:


Producers supply the exact goods that consumers buy.

Consumers have enough goods, at the given price.

Producers used their resources efficiently.

Equilibrium pricing is when the items demanded match the items supplied. When this happens, the demand and good available equal each other, hence, equilibrium. The pricing is exactly where it should be for consumers to want and purchase the good or service.

6 0
3 years ago
Read 2 more answers
A U.S.-based importer, Zarb Inc., makes a purchase of crystal glassware from a firm in Switzerland for 39,960 Swiss francs, or $
IRINA_888 [86]

Answer:

e. $638

Explanation:

payment to be made as per forward contract (IN $)

= 39960/ 1.682  

= $23757.43  

now the actual rate after 90 days is 1.638

payment at 1.638 rate = 39960/ 1.638

                                    = $24395.6  

loss by hedging = $24395.6 - $23757.43  

                           = $638.17

Therefore, The U.S. firm have saved or lost $638 in U.S. dollars by hedging its exchange rate exposure.

4 0
3 years ago
Southern Hydraulic Supply is undertaking a review of their inventory policies. A typical product is a small hydraulic fitting. C
zheka24 [161]

Answer:

$418,550

Explanation:

Steps are shown below:

a. The computation of the economic order quantity is shown below:

= \sqrt{\frac{2\times \text{Annual demand}\times \text{Ordering cost}}{\text{Carrying cost}}}

= \sqrt{\frac{2\times \text{52,000}\times \text{\$50}}{\text{\$1.25}}}

= 2,040 units

b. The number of orders would be equal to

= Annual demand ÷ economic order quantity

= $52,000 ÷ 2,040 units

=  25.49 orders

c. The average inventory would equal to

= Economic order quantity ÷ 2

= 2040 units ÷ 2

= 1,020 units

d. The total cost of ordering cost and carrying cost equals to

Ordering cost = Number of orders × ordering cost per order

= 25.49 orders × $50

= $1,275

Carrying cost = average inventory × carrying cost per unit

= 1,020 units × $1.25

= $1,275

So, the total annual cost would be  

= Purchase cost + ordering cost + carrying cost

= $416,000 + $1,275 + $1,275

= $418,550

Purchase cost = Annual demand × cost per unit

                        = 52,000 × $8

                        = $416,000

6 0
3 years ago
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