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This is assuming that third party cards refer to third party issued credit cards that are issued by banks while using the credit provider's system. When you get a third party issued card, the information that is always there would be the name, the card number, the card account number, and expiration date (there is also a CVV at the back).
Answer:
Equipment is an _asset__ account. It is reported on the _left_ side of the accounting equation and is __increased__ when equipment is purchased
Explanation:
Buying more Equipment is an asset to company in the sense that it helps in boosting the company production output and in turn generating more profit. It is reported on the left side of the company accounting equation. The aggregate equation increases as the number of equipment purchase increases.
Answer:
1) In general, is it a good idea to make only minimum payments on your credit cards?
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No, the small payment requirement is mathematically guaranteed to keep you in debt for many years.
All you have to do is analyze the interest rates charged by the credit card companies and it is really difficult for any investment to match those interest rates.
2) Assuming you have $1,500 in your budget this month with which to pay down your credit cards, how much should you pay on each card?
I would start with the cards that charge the highest interest rates. I would pay the full balance of the department store card and the gasoline card = $600 + $300 = $900
Since I have $600 left, I would then pay the minimum payments for the cards that charge the least interest rates. I would pay $40 to Discover card and $60 to VISA.
The remaining $500 would be used to pay MasterCard 1 card and lower its balance.
Answer:
$105,075
Explanation:
The computation of the operating income is shown below:
Sales (4 × 69,500) $278,000
Less:Variable costs (0.95 × 69,500 + 5% × 278,000) $79,925
Contribution margin $198,075
Less: fixed cost (13,000 + 80,000) $93,000
Net operating income $105,075
We simply deduct the variable cost and the fixed cost from the sales to arrive at the net operating income
