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Sedbober [7]
2 years ago
12

Determine the finance charge using the previous balance method. The account balance on April 1st is $50.51. On April 15th, a pay

ment of $15.00 is made. On April 25th, a purchase of $19.27 is made. What is the finance charge if the annual rate is 18%?
Business
1 answer:
Sedbober [7]2 years ago
5 0

Answer:

$0.7577

Explanation:

The computation of the finance charge is shown below:

Finance charge =  The account balance × monthly rate

where,

The account balance = $50.51

Monthly rate = 18% ÷ 12 months = 0.015

So, the finance charge is

= $50.51 × 0.015

= $0.7577

We simply multiplied the account balance with the monthly rate so that the finance charge could come

All other information is not relevant. Hence, ignored it

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Which of the following is not considered a debit
dem82 [27]

The answer is <u>"A. Interest earning".</u>


A debit is an accounting entry that outcomes in either an expansion in resources or a decline in liabilities on an organization's accounting report. In basic accounting, debits are adjusted by credits, which work the correct inverse way. For example, if a firm applies for a new line of credit to buy gear, it would debit settled resources and credit a liabilities account, contingent upon the idea of the loan.  


8 0
3 years ago
Read 2 more answers
3. Balancing utility and price Suppose Tim has to choose between purchasing high-definition televisions and juice. Which of the
Rom4ik [11]

Answer: Option (C) is correct.

Explanation:

The following rule should be use to choose the optimal quantities of two goods:

\frac{MU\ of\ Juice}{Price\ of\ Juice} =\frac{MU\ of\ HDTVs}{Price\ of\ HDTVs}

Marginal utility refers to the utility that a consumer can get from the additional unit of a commodity.

\frac{MU\ of\ Juice}{MU\ of\ HDTVs} =\frac{Price\ of\ Juice}{Price\ of\ HDTVs}

From the above equation, we can predict that marginal utility from the last TV is greater than the marginal utility obtained from the last gallon of juice. We know that Juice is less expensive as compared to the price of TV.

8 0
3 years ago
Colil Computer​ Systems, Inc., manufactures printer circuit cards. All direct materials are added at the inception of the produc
Natasha2012 [34]

Answer:

D. $246,000

Explanation:

As per the given question the solution of direct material cost assigned to good units​ completed is provided below:-

To reach Cost transferred out we need to follow some steps which is following below:-

Step 1. Cost per unit = cost of material used ÷ Units started

= $300,000 ÷ 12,500

= $24

Now,

Step 2. Goods units completed = Started units × Cost per unit

= 6,250 × $24

= $150,000

Step 3. Normal spoilage = Cards units × Cost per unit

= 4,000 × $24

= $96,000

and finally

Cost transferred out = Goods units completed + Normal spoilage

= $150,000 + $96,000

= $246,000

To reach allocation of Cost transferred out we simply put the values into formula.

7 0
3 years ago
Year 1 2 3 4 Free Cash Flow ​$12 million ​$18 million ​$22 million ​$26 million Conundrum Mining is expected to generate the abo
makkiz [27]

Answer:

$463.67 million

Explanation:

The computation of the expected terminal enterprise value is shown below:

Terminal Enterprise value is

= Free cash flow ×  (1 + growth rate)  ÷ (Weighted average cost of capital - growth rate)

= $26 million × (1.07) ÷ (0.13 - 0.07 )

= $27.82 million ÷ 0.06

= $463.67 million

We simply applied the above formula to determine the expected terminal value

4 0
2 years ago
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