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r-ruslan [8.4K]
3 years ago
9

Ace Credit Card Company agrees to transfer cash to Seller Company deposit of that company's credit card sales sales. If Seller C

ompany deposits $57,300 credit eard statements is true?
A. Ace will receive $56,154 cash from Seller Company
B. Seller Company will receive cash $56,154 from Ace
C. Ace will receive $57,300 cash from Seller Company
D. Seller Company will receive $57,300 cash from Ace
E. Ace will pay Seller Company a $1,146 credit card fee
Business
1 answer:
olga nikolaevna [1]3 years ago
8 0

Answer:

The question is incomplete, below is a possible match of the complete question:

Ace Credit Card Company agrees to transfer cash to Seller Company immediately upon deposit of that company's credit card sales receipts. Ace charges a 2% fee for all credit card sales. If Seller Company deposits $57,300 credit card sales receipts, which of the following statements are true?

A. Ace will receive $56,154 cash from Seller Company

B. Seller Company will receive cash $56,154 from Ace

C. Ace will receive $57,300 cash from Seller Company

D. Seller Company will receive $57,300 cash from Ace

E. Ace will pay Seller Company a $1,146 credit card fee

The correct answer is:

Seller Company will receive cash $56,154 from Ace  (B)

Explanation:

Since Ace charges a 2% fee for all credit card sales, for a deposit of $57,300 by Seller company, the 2% service charge will be deducted, and to find how much cash seller company will receive, we will calculate the balance on the deposited amount after the 2% fee has been deducted. This is done as follows.

2% of $57,300 = 2/100 × 57,300

= 0.02 × 57,300 = $1,146

Therefore, balance after deduction:

= 57,300 - 1,146 = $56,154

Hence, seller company will receive a cash of $56,154 from Ace for the credit card sales.

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Ratio analysis A company reports accounting data in its financial statements. This data is used for financial analyses that prov
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Explanation:

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b. Activity Ratios allows stakeholders know how efficient the company is at running daily operations. Examples include; Receivables Turnover and Asset Turnover ratios.

c. Financial Ratios are very important to the company as they can decide if a company will be able to get loans. They include ratios that measure the firm's ability to pay off debt as well as the overall condition of the firm in terms of it's finances.

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