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vazorg [7]
3 years ago
11

Randy Ice starts the month with a balance on his credit card of $1000. On the 10th day of the month, he purchases $200 in clothe

s with his credit card. On the 15th day of the month he makes a payment on his credit card of $500. The average daily balance for the month including the new purchase is $883. The average daily balance for the month excluding the new purchase is $750. The bank charges 1.5 percent per month and uses the average daily balance excluding new purchases method. What would Randy's finance charges be for the month
Business
1 answer:
Eva8 [605]3 years ago
6 0

Answer: $11.25

Explanation:

From the above question, The bank charges 1.5 percent per month and uses the average daily balance excluding new purchases method.

The average daily balance for the month excluding the new purchase is $750.

Therefore, the finance charge =

$750 x 1.5%

= $11.25

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I think its Sugar because that usually what people are talking about when dealing with children.
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The last custodian of the petty cash fund was hospitalized and you have been asked to take stock of the fund and replenish it. W
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Answer:

                               General Journal

Accounts Titles and Explanation          Debit     Credit

Office supplies                                        $295

Advertising expense                               $120

Transportation expense                          $75

<em>Cash short and over                                $11 </em>

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5 0
3 years ago
A company had the following cash flows for the year:
BaLLatris [955]

Answer:

$35,000 (inflow)

Explanation:

Net investing cash flows is computed as follows;

Inflow:

Issued common stock $75,000

Sold equipment 40,000

Total $115,000

Less: outflow

Purchased land $60,000

Paid dividends 20,000

Total outflow $80,000

——————

Net investing cash flows $35,000

*positive cash flows (inflow is greater than outflow) will increase the amount cash of the company

*proceeds from the bank classified as financing activity

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3 0
3 years ago
On December 10, you receive your bank statement showing a balance of $2,979.94. Your checkbook shows a balance of $2,778.88. Out
babunello [35]

Answer:

See below

Explanation:

Balance per bank statement $2,979.94

Add: Interest earned $126.83

Less:

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Add: Oustanding checks

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What would a risk be based on the following information: Marty is 60 percent certain that he can get the facility needed for $45
snow_lady [41]

Answer:

Marty is 60 percent  sure  that he can save the project the amount of $7,000 which means that the  amount of $4,200 will tend to depict  the 60 percent certainty Amount  of the savings

Explanation:

What would the risk be based on the information given in a situation where he is 60 percent sure that he can get the facility needed for the amounts of $45,000 in which the amount is lower that the amount of $7000 that was planned for is that Marty is 60 percent  sure that he can save the project the amount of $7,000 which means that the amount of $4,200 which is simply calculated as (60%*$7,000) will tend to depict the 60 percent certainty Amount  of the savings.

5 0
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