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Zigmanuir [339]
2 years ago
14

What is a secured credit card and how does it work.

Business
1 answer:
nydimaria [60]2 years ago
8 0
A secured credit card is a card that requires a cash security deposit when you open the account. The deposit reduces the risk to the credit card issuer: If you don't pay your bill, the issuer can take the money from your deposit. That's why these cards are available to people with bad credit or no credit.
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Partner Industries sells a single product for $50 that has a variable cost of $30. Fixed costs amount to $15 per unit when antic
DENIUS [597]

Answer:

$20.

Explanation:

As the question require us to calculate the profit when one unit in excess of break-even point is sold, so we have to calculate the break-even quantity first. The formula to calculate the break-even quantity is:

          Break-even Units = Fixed Cost / (Contribution Margin Per Unit)

where

Contribution margin per unit = Selling price per unit - variable cost per unit

⇒ Break-even units = 15 / (50 - 30) = .75.

This makes the one unit in excess of break-even volume to be 1.75. Now, we have to draft the income statement to determine the operating profit when sales volume is 1.75.

                                               Income Statement

Revenue (50 * 1.75)                                                          $87.5

Variable Cost (30 * 1.75)                                                   (52.5)

Fixed Cost                                                                           (15)

Operating Profit                                                                $20

3 0
3 years ago
Read 2 more answers
Wilbert's Clothing Stores just paid a $1.20 annual dividend and increases its dividend by 2.5 percent annually. You would like t
astraxan [27]

Answer:

For 100 shares, the mount that should be paid = $1766

Explanation:

We have to calculate the price of the stock in the 4th year because the investor cannot afford the stock in another 3 years.

Price of the stock = Do + g / ke - g

Dividend in current year = $1.2

Dividend after 1 year = 1.2 +2.5% (1.2)= 1.23

Dividend after 2 years = 1.23 + 2.5%(1.23) = 1.26075

Dividend after 3 years = 1.26075 + 2.5%(1.26) = 1.29227

Price in 4th year = 1.29227 + 2.5% / (0.10 - 0.025)

                            =1.29227 + 2.5%(1.29227)/0.075

                            = 17.66

Therefore, for 100 shares, the mount that should be paid = 17.66 * 100 = $1766

5 0
3 years ago
Read 2 more answers
Walden Industries is considering investing in productionminusmanagement software that costs $ 630 comma 000​, has $ 60 comma 000
nadya68 [22]

Answer:

345,000

Explanation:

accounting rate of return:

\frac{net \:profit}{average \: investment}

The average investment will be the average between the ending and beginning book value of the investment:

In this case, the acquisition of the software and his salvage value at the end of the useful life.

( 630,000 + 60,000 ) / 2 = 345,000

4 0
2 years ago
What is accounting theory​
Gemiola [76]

Answer:

a set of assumption framework and methodologies used in the study of application of financial reporting principles

8 0
3 years ago
On December 31 of the current year, the unadjusted trial balance of a company using the percent of receivables method to estimat
devlian [24]

The amount that should be debited to Bad Debts Expense, assuming 3% of outstanding accounts receivable at the end of the current year are estimated to be uncollectible is $1,913

<h3>What is bad debts expenses?</h3>

Bad debt are debts owned to a business which cannot be recovered. Here, the customer has chosen not to pay this amount.

Computation of amount to be debited to Bad Debts Expense:

=  Accounts Receivable, debit balance of $97,800 *  3% of outstanding accounts receivable at the end of the current year

= $97,800 *  3%

= $2,934

Then,

= $2,934 - $1,021

= $1,913

Hence, the amount that should be debited to Bad Debts Expense, assuming 3% of outstanding accounts receivable at the end of the current year are estimated to be uncollectible is $1,913

Learn more about bad debts expenses here : brainly.com/question/18568784

4 0
2 years ago
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