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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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adoni [48]

Answer: 0.51

Explanation:

Nominal rate = 1.85%

Inflation rate = 1.90%

Real rate of return = (1 + nominal rate / 1 +inflation rate) - 1

Real rate of return = ((1 + 0.0185) / (1 + 0.019)) - 1

= (1.0185 / 1.019) - 1

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3 0
3 years ago
what is the relationship between the securities and exchange chommisison and accounting standard setting in the united states
zlopas [31]

Complete Question:

What is the relationship between the Securities and Exchange Commission and accounting standard setting in the United States?

A) The SEC requires all companies listed on an exchange to submit their financial statements to the SEC.

B) The SEC coordinates with the AICPA in establishing accounting standards.

C) The SEC has a mandate to establish accounting standards for enterprises under its jurisdiction.

D) The SEC reviews financial statements for compliance.

Answer:

C) The SEC has a mandate to establish accounting standards for enterprises under its jurisdiction.

Explanation:

Accounting principle can be defined as a general guideline to be followed by accountants or financial institutions when they record and report their financial transactions.

The Securities and Exchange Commission (SEC) is a governmental agency saddled with the sole responsibility of regulating the securities or capital markets, as well as protecting investors in a country.

In the United States of America, the Securities and Exchange Commission (SEC) as an independent government agency was established under the Securities Act of 1933 and the Securities and Exchange Act of 1934 of the United States of America. It has the power to propose securities rules and regulations, and enforce federal securities law in the securities market.

GAAP is an acronym for Generally Accepted Accounting Principles, it comprises of the accounting standard, procedures and principles used by public institutions in the United States of America. The U.S GAAP is issued by the Financial Accounting Standards Board (FASB) and adopted by the U.S. Securities and Exchange Commission (SEC).

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Buchi owns several financial instruments: stocks issued by seven different companies, plus bonds issued by four different compan
denpristay [2]

If Buchi owns several financial instruments: stocks issued by seven different companies, plus bonds issued by four different companies, her investments are best described as a PORTFOLIO

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7 0
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Probett's Auto Body Repair Shop had revenues that averaged $90,000 per week in April and $80,000 per week in May. During both mo
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Answer:

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