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Free_Kalibri [48]
3 years ago
6

Which of the following are true if you pay only the minimum amount each month towards your credit card bill?a. You will be charg

ed interest on your remaining balance.b. Your Annual Percentage Rate will increase.c. You may be in debt for a long time.d. Both A and B are true.
Business
1 answer:
BigorU [14]3 years ago
4 0

Answer:

The correct answer is A and C as both are true statement.

Explanation:

Credit Card is a facility which is offered by banks to borrow money and it could be used by the borrower for buying expensive goods and the services up front. It has a time period, in which the borrower need to make payment for the amount used by the borrower along with the interest charged.

So, if the borrower paid the minimum amount towards the credit card, then the borrower is still in debt until clears or paid the whole amount and also will be charged the interest against the remaining balance or amount.

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A class of stock for which there is no minimum legal capital is called?
Ann [662]
The answer would be D noncumulative stock.
6 0
3 years ago
Colaw Co. pays all salaried employees on a biweekly basis. Overtime pay, however, is paid in the next biweekly period. Colaw acc
fgiga [73]

Answer:

salaries expense   81,000  debit

    salaries payable               81,000 credit

Explanation:

the recurrring salaries for a biwweekly salaries is 270,000

In two weaks assuming five-day work week, there is 10 days.

so we divide to get the expected wages per day the recurring salaries by the amount of days of that period:

270,000 / 10 = 27,000 per day

Then, we multiply by the 3 days from the current period:

27,000 x 3 = <u>81,000</u>

this will be the accrued expenses for the period

5 0
3 years ago
On December 30, Year 12, AGH, Inc. purchased a machine from Grant Corp. inexchange for a zero-interest-bearing note requiring ei
andrey2020 [161]

Answer:

$329,840

Explanation:

Calculation to determine the net note payable to Grant

Net note payable to Grant=$70,000 × 4.712

Net note payable to Grant= $329,840

OR

Net note payable to Grant= ($70,000 × 5.712) – $70,000

Net note payable to Grant= $329,840

Therefore On AGH's December 31, 2017 balance sheet, the net note payable to Grant is:$329,840

6 0
3 years ago
Rick's Internet Corporation's balance in Retained Earnings is $30,000. The board of directors directs that $15,000 be appropriat
gtnhenbr [62]

<u>Answer</u> is D. remain at $30,000.

<u>Explanation:</u>

Rick's Internet Corporation balance in retained earnings = $30,000

Appropriated earning for future business expansion = $15,000

This appropriated earning set for future use will have no effect on the total retained earnings, because for appropriate retained earnings,  the entry is to debit the retained earnings account.

Also, it would be board's decision if they want to use the money from the retained earnings or add more capital to it.

6 0
3 years ago
A traditional cover letter’s format includes an introduction, a __________and a_____________ paragraph.
ehidna [41]

A traditional cover letter’s format includes an introduction, a body and a closing paragraph.

4 0
3 years ago
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