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r-ruslan [8.4K]

2 years ago

11

Mark decides to only pay the minimum payment each month of $15 for his credit card. He continues to charge purchases to the cred

it card at a monthly average of $400 a month. How long will it take for Mark to reach his maximum limit, or max out his credit card?

1 answer:

sladkih [1.3K]2 years ago

6 0

25 hours max wo0ld take him thagtlong

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How are dividends and dividends payable reported in the financial statements prepared at december 31

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1. Dividends are deducted from the Statement of Retained Earnings as dividend expenses.

2. Dividends payable are reported in the Balance Sheet as current liabilities.

Explanation:

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Assume University Athletic Pharoah Club sells T-shirts for $30 and anticipates selling 6,700 shirts during football season. The

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The preparation of the University Athletic Pharaoh Club's Income Statement in the contribution margin format is as follows:

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Variable cost of sales 155,574

Contribution margin $45,426

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Net Income $11,900

<h3>Data and Calculations:</h3>

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Learn more about Contribution-Margin Income Statement at brainly.com/question/24962994

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1 year ago

A. Cash receipts from customers for services rendered __________ Operating __________Inflow

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Answer:

a. Cash receipts from customers for services rendered

Indication: <u>Operating activities </u>and <u>Cash Inflow</u>

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Indication: <u>Investing actiivity</u> and <u>Cash Inflow </u>

c. Acquisition of property, plant and equipment for cash

Indication: <u>Investing activity</u> and <u>Cash Outflow</u>

d. Payment of income taxes

Indication: <u>Operating activity</u> and <u>Cash Outflow</u>

e. Bonds payable issues for cash

Indication: <u>Financing Activity</u> and <u>Cash Outflow</u>

f. Payment of cash dividends declared in previous year

Indication: <u>Financing activity</u> and <u>Cash Outflow</u>

g. Purchase of short-term investments (not cash equivalents) for cash

Indication: <u>Investing activity</u> and <u>Cash Outflow</u>

h. Purchases of inventory for cash

Indication: <u>Operating activity</u> and <u>Cash Outflow</u>

<u />

<u>Definition of terms</u>

<u>Operating Activity:</u> This activity will show how much the cash flow from the business in operating . This included net profit and changes in assets and liabilities and amortization expenses .

<u>Investing Activities</u>: This part is shows the where the money is invested or investment is sold.

<u>Financing Activities</u>: This activities will show the cash flow from financing activities between the reporting period example. Raising or payment of the fund through the common stock , preference and bonds etc.

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2 years ago