Answer:
a. $5
b. $4
c. $6
Explanation:
a. store A?
Beginning balance = $300
Ending balance = $300 - $100 = $200
Average balance = ($300 + $200) ÷ 2 = $250
Monthly APR = 24% ÷ 12 = 2%
June finance charge = Average balance × Monthly APR = $250 × 2% = $5
b. store B
June finance charge = (Beginning balance - Payments) × Monthly APR = ($300 - $100) × 2% = $4
c. store C?
June finance charge = Beginning balance × Monthly APR = $300 × 2% = $6
A gift card is something that anyone, of any age, can buy. This card works only at the certain business it is for. Such as a Burger King gift card, you can only use that card at Burger King. A checking account debit card is a card you can use in any situation, as long as they have the proper equipment. This card extracts money from your banking account, whereas the gift card has a set amount of money on it. Also, a checking account debit card is only given to people 18 and over, since signing a check is technically signing a contract, and using a debit card goes along the same lines as signing a check.
Answer:
a.$7.43 per machine hour
Explanation:
The computation of the single plant wide rate is shown below:
Single plant wide rate = Total overhead cost ÷ Machine hours
where,
Total overhead cost = $84,000 + $72,000 = $156,000
And, the machine hours is
= 1,000 units × 5 + 2,000 units × 8
= 5,000 + 16,000
= 21,000 machine hours
So, the single plant wide rate is
= $156,000 ÷ 21,000 machine hours
= $7.43 per machine hour
Answer:
$25,400
Explanation:
Equity which represents the amount owed to the owners of the business includes retained earnings (which is the accumulation of the net income/loss over the years less dividends paid) and common shares.
The movement in the retained earnings balance may be expressed as
Opening balance + net income - cash dividend paid = closing retained earnings balance
Cash dividend declared - Cash dividend paid = Cash dividend payable
$49,000 - Cash dividend paid = $23,600
Cash dividend paid = $49,000 - $23,600
= $25,400
