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Lilit [14]
3 years ago
13

On March 1, 2020, Mike Dials purchased a suit at Crane's Fine Apparel Store. The suit cost $950 and Mike used his Crane credit c

ard. Crane charges 2% per month interest if payment on credit charges is not made within 30 days. On April 30, 2020, Mike had not yet made his payment. What entry should Crane make on April 30th?
Business
1 answer:
vfiekz [6]3 years ago
3 0

Answer:

The entry amount made by Crane=$988

Explanation:

Step 1

Determine the interest charged due to the delay using the expression below;

Interest=principal×rate×time

where;

principal=$950

rate=2%=2/100=0.02

time=2 months

replacing;

Interest=(950×0.02×2)=$38

The interest charged by April 30, 2020=$38

Step 2

Calculate total amount of payment

The total amount=Principal amount+interest

where;

principal=$950

interest=$38

replacing;

Total amount of payment=(950+38)=$988

The entry amount made by Crane=$988

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3 years ago
The Gecko Company and the Gordon Company are two firms whose business risk is the same but that have different dividend policies
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Answer:

10.67%

Explanation:

Gecko Company

Gecko = Expected Earnings growth rate = 8% annually

As there are no Capital gains tax, thus after Tax returns = Pretax returns

= 8%

Expected Dividend yield of Gordon = 5%

After tax returns = 5(1-.25)

=5(0.75)

= 3.75%

Assuming the pay out ratio = 100%

Gordon’s required pretax return = 8/ (1-.25)

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= 10.67%

At pretax return of 10.67% on Gordon the after tax returns on both the stocks are equal.

5 0
3 years ago
Identify the marketing research technique implied in the scenario. Tiara is planning to open a small café in her neighborhood. H
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Answer:

demographic and psychographic segmentation

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5 0
4 years ago
Mike has one hour to spend at the gym where he will jog, play handball and cycle. jogging uses 10 calories per minute, handball
slega [8]
Let
x = minutes used for jogging
y = minutes used for handball
z = minutes used for cycling

Th total time spent is 1 hour (60 minutes), therefore
x + y + z = 60

Because Mike jogs as long as he cycles, therefore
x = z
Therefore
2x + y = 60
or
y = 60 - 2x                 (1)

Jogging consumes 10 calories/min, handball consumes 9 calories/min and cycling consumes 12 calories/min.
The calories consumed in 60 minutes is 580, therefore
10 x + 9y + 12z = 580
Because x = z,
22x + 9y = 580          (2)

Substitute (1) into (2).
22x + 9(60 - 2x) = 580
22x + 540 - 18x = 580
4x = 40
x = 10
y = 60 - 2x = 40
z = x = 10

Answer:
10 minutes of jogging
40 minutes of handball
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3 years ago
Stocks X and Y have the following data. Assuming the stock market is efficient and the stocks are in equilibrium, which of the f
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Answer:

b. Stock Y has a higher dividend yield than Stock X

Explanation:

Hope it helped...Please mark brainliest. Have a nice day!

7 0
4 years ago
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