Answer:
Budgeted operating expense for Credit Card transactions:
Credit Card Transaction fee $0.20 x 30,000 + 1.5% of $9,000,000 = $141,000
Explanation:
The first element of the budgeted expense is $0.20 of 30,000 transactions. This gives a value of $6,000.
The second element is 1.5% of the transaction value. This gives a value of $135,000.
When added up, we have a total of $141,000 as the total expense to be budgeted for credit card transactions.
The essence of having such separate charges is to capture the volume of transactions as well as the value. Transaction-based services are usually priced to include costs based on volume and value.
It is generally considered to be fair for the two parties involved. Sometimes, the volume may be less but the value more and vice versa. In order to compensate the service provider fairly, such arrangements are made to integrate volume and value in the pricing scheme.
Answer:
The amount allocated to ending inventory is $ 11,520
Explanation:
Using LIFO basis of inventory valuation implies that the items received last are sold first,in other words, sales of 160 units comes from the purchases of 240 units made on July 5,that leaves 80 units of the purchase in closing inventory.
However,the sale of 140 units on 30 July is taken from purchases of 120 units on July 21 as well as purchases of July 5.
The amount allocated to ending inventory is computed below:
July 5 60 units at $112 $6,720
opening inventory 40 units at $120 $4,800
Value of closing inventory $11,520
Answer:
The correct answer is 25%
Explanation:
To calculate the value of the tax rate to decide on the municipal bond, we must take the information of the annual yield minus the expenses associated with this product, on the interest of the corporate bond:
Tax Rate = 1 - (0.0525 / 0.0700) = 25%
In this way, 25% or more, is a percentage of the tax rate that can make them decide on the municipal bond option.
D) the availability of land, labor and capital
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Complete Question:
A customer wishes to open an account at a FINRA member firm, but wishes his identity to remain hidden to the employees at the branch office. Which statement is TRUE?
Group of answer choices
A. The customer's request cannot be accommodated
B. The customer must apply to FINRA to open such an account
C. The customer must sign a statement attesting to account ownership for such a request to be honored
D. The customer must submit a photo identification to open such an account
Answer:
C. The customer must sign a statement attesting to account ownership for such a request to be honored.
Explanation:
When a customer wishes to open an account at a Financial Industry Regulatory Authority (FINRA) member firm, but wishes his identity to remain hidden to the employees at the branch office. The customer must sign a statement attesting to account ownership for such a request to be honored. This simply means that, according to the policy of the Financial Industry Regulatory Authority, it is required that the customer signs a statement which expressly states or attests to the fact that he is the sole owner of the account.
