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emmasim [6.3K]
2 years ago
13

You owe $976.34 on a credit card that has an interest rate of 10.75% apr. you pay $100.00 at the end of each month. 3. calculate

the difference between the interest accrued by a $976.34 balance on the credit card and what $100.00 would earn in a savings account that has an interest rate of 2.75% apr over the span of one month.
Business
1 answer:
ELEN [110]2 years ago
3 0

your method was incorrect.

the correct answer is:

interest accrued per month: 976.34*10.75/100*1/12= $8.75

interest from savings account: $100 * 2.75/100 *1/12 = $.23

3.difference is: 8.75 - . 23= $8.52 (answer)

4. amount towards principal after $100 payment is ($100-$8.75)= $91.25(answer)

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On June 1, 2017, Pharoah Company was started with an initial investment in the company of $22,350 cash. Here are the assets, lia
guapka [62]

Answer:

                            Pharaoh Company

                             Income statement  

                 For the year ended June 30, 2017  

Revenue & Gains                                              Amount

Service Revenue                                               $7,910

Total revenue & gains (A)                                 $7,910

Expense and losses:

Salaries and wages expense         $1,810

Advertising expense                       $400

Supplies expense                            $2,370

Utilities expense                              $270

Maintenance and repair expense  $630

Total expense (B)                                            <u>$5,480</u>

Net Income (A - B)                                          <u>$2,430</u>

6 0
2 years ago
​_____ is the industry term for inventory and cash losses from shoplifting damage to​ merchandise, and employee theft.
vichka [17]

Answer:

correct answer is C. Shrinkage

Explanation:

Shrinkage is industry term for an inventory and the cash losses

because shrinkage is difference between the record inventory and actual inventory so that shrinkage is the loss of an inventory and some factor that is attribute like vendor is fraud , employee theft or cashier errors or could be administrative error etc

so here correct option is  C. Shrinkage

7 0
3 years ago
Tandy Company was issued a charter by the state of Indiana on January 15 of this year. The charter authorized the following:
Anastaziya [24]

Answer and Explanation:

The preparation of  the stockholder equity section is presented below:

Tandy Company

Balance Sheet (Partial)  

Stockholders Equity :  

Contributed Capital :  

Common stock (21,900 shares ×  $6) $131,400

Preferred stock (5,000 shares × $13) $65,000

Additional Paid in Capital - Common stock (21,900 shares ×  $20)  $438,000

Additional Paid in Capital - Preferred stock (5,000 shares × $17) $85,000

Total Contributed Capital $719,400

Add: Retained Earnings $41,600

Total Stockholders Equity $761,000

4 0
3 years ago
Carlos Company had beginning inventory of $80,000, ending inventory of $110,000, cost of goods sold of $285,000, and sales reven
DerKrebs [107]

121.67 days

Days in inventory is a measure of the average number of days that inventory is held.

365 days / ($285,000 / (80000+110,000)/2))

365 / (285,000 / {190,000/2})

365/ (285000/95000)

365/3 = 121.67 (rounded)

8 0
3 years ago
Suppose that after hurricane​ Irene, the average income in Cape​ Charles, Virginia decreased by 16 percent. In response to this
SIZIF [17.4K]

Answer:

0.875

Explanation:

The income elasticity of demand measures the responsiveness of quantity demanded to changes in income.

Income elasticity of demand = percentage change in quantity demanded / percentage change in income

14% / 16% = 0.875

Demand is inelastic because the coefficient of elasticity is less than one.

I hope my answer helps you

3 0
3 years ago
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