Answer:
Dr Account receivable $65,940
Cr Sales Revenue $62,800
Cr Sales tax payable $3,140
Explanation:
Sales of merchandise inventory on account
Dr Account receivable $65,940
Cr Sales Revenue $62,800
Cr Sales tax payable $3,140
Sales tax payable = Sales Revenue × Sales tax percentage
$62,800×5%
=$3,140
Amount of account receivable
Account receivable = Sales Revenue + Sales tax payable
$62,800+ $3,140
=$65,940
Answer:
1,386.67%
Explanation:
Loan Amount = $8.25
Repayment Amount = $10.45
Hence,
Interest for a week = Repayment Amount - Loan Amount
= $10.45 - $8.25
= $2.2
Interest percentage for a week:
= 
= 
= 26.66% (approx)
Number of weeks in a year = 52
Therefore,
Effective annual return:
= Interest percentage for a week × Number of weeks in a year
= 26.66% × 52
= 1,386.67%
Hence, effective annual return Friendly’s earns on this lending business is 1,386.67%
.
APR you are paying 1,386.67%.
C.prepare a list of ledger accounts used in the business
b.balance the ledger accounts
a.total the debit column of the trial balance and then total the credit column of the trial balance
d.transfer.the ledger accounts To a trial balance or list the balance account. if the ledger account shows a debit,balance the debit side of the trial balance.if the ledger account shows a credit,balance the credit side of the trial balance.
Answer:
a. Determine the total charge under each plan for this case: 120 minutes of day calls and 40 minutes of evening calls in a month.
- Cost for Plan A = ($0.41 x 120) + ($0.16 x 40) + $20 = $
75.60
- Cost for Plan B = ($0.51 x 120) + ($0.15 x 40) + $20 = $
87.20
- Cost for Plan C = $80 + $20 = $100
b. If the agent will use the service for daytime calls, over what range of call minutes will each plan be optimal?
- If the agent will use the service only for daytime calls, Plan A is better if the agent uses 195 minutes maximum. If the agent expects to use 196 or more minutes, then Plan C is better.
c. Suppose that the agent expects both daytime and evening calls. At what point (i.e., percentage of total call minutes used for daytime calls) would she be indifferent between plans A and B?
- Plan A charges 10¢ less per daytime minute, while plan B charges 1¢ less for evening minutes, that means that the proportion of daytime calls should be 1/11, while the proportion of evening calls should be 10/11.
